Gold prices hit record highs in Pakistan

Gold prices in Pakistan surged to an all-time high on Friday, with the per tola rate climbing by a record PKR 10,000 to reach PKR 338,800, according to the All Pakistan Sarafa Gems and Jewelers Association.

The sharp rise mirrors a global trend, where gold soared to $3,218 per ounce — its highest ever — as investors worldwide shift towards safe-haven assets amid mounting economic uncertainty and geopolitical tensions.

Market analysts attribute the dramatic increase to continued pressure on global markets, inflation concerns, and a weakening U.S. dollar, prompting a flight to commodities like gold.

Local jewelers warn that if current trends persist, gold could become increasingly inaccessible for the average buyer, especially ahead of the wedding season when demand typically rises.