The gold price in Pakistan reached a new record high on Friday as rates soared both in local and international markets.
According to the All Pakistan Gems and Jewellers Association, the price of gold per tola increased by Rs 2,100, reaching Rs 422,700. Meanwhile, the price of 10 grams of gold climbed by Rs 1,800, now being sold at Rs 362,397.
In the international market, gold prices also surged by $21 per ounce, taking the rate to $4,016 per ounce.
Experts say the rise in gold prices is linked to the fluctuating value of the US dollar, increased global demand, and ongoing economic uncertainty. Local jewellers noted that record prices have impacted sales, as fewer buyers are now visiting markets.
Analysts added that gold remains a safe-haven investment, particularly during times of inflation, political instability, and financial volatility. When investors feel uncertain about other assets, they often shift their focus to gold as a means of protecting their wealth.
Last year, Pakistan revised its gold pricing mechanism, setting local prices $20 per ounce higher than international market rates, aligning with global fluctuations and domestic demand.
