Gold prices in Pakistan hit record high

Gold prices in Pakistan have surged to unprecedented levels, with 24-karat gold reaching a record high of PKR 314,800 per tola, according to the All Pakistan Sarafa Gems and Jewellers Association.

The sharp increase is attributed to global economic uncertainties, ongoing geopolitical tensions, and fluctuations in the international gold markets, which reached $2,999.09 per ounce.

Rising trade tensions have bolstered safe-haven demand for the precious metal. Additionally, expectations that the Federal Reserve will implement multiple rate cuts in 2025 and the U.S. dollar hovering near multi-month lows have provided further support to gold prices.

The current price represents a dramatic 16% rise from PKR 272,600 per tola recorded on December 31, 2024. This rapid escalation, unseen in recent history, has sparked concern among consumers while offering gains for investors.

Silver prices have also climbed in tandem with gold.

The volatile market conditions underscore the importance of staying informed about global trends affecting precious metals, as their prices continue to reflect the shifting economic landscape.