Gold hits record high in Pakistan at Rs348,000 per tola amid global surge

Gold prices in Pakistan soared to an all-time high Wednesday, reaching 348,000 Pakistani rupees ($1,230) per tola, driven by a sharp rise in international markets.

According to the All Pakistan Sarafa Gems and Jewelers Association, the surge reflects growing global demand for the precious metal amid geopolitical tensions and inflation concerns.

International gold prices also hit a historic peak, climbing to $3,310 per ounce, the highest on record.

The price spike is fueled by investors seeking safe-haven assets as uncertainty continues to cloud global markets. Central banks worldwide have increased their gold reserves, further tightening supply.

Traders expect continued volatility in both domestic and international markets as economic uncertainty and interest rate concerns persist.