Gold prices in Pakistan reach historic high of PKR 299,600/tola
Central banks boost gold prices as safe-haven asset demand soars
Gold prices in Pakistan reached a historic high, nearing PKR 300,000/tola after global bullion prices soared to new heights.
The gold price in global markets surged by $53 to $2,863/ounce on reports that central banks continued their buying spree. Moreover, China imposed tariffs on US imports in retaliation for US duties on Chinese goods. Investors turned to gold as a safe-haven asset.
The gold prices surged by PKR 5,300 to PKR 299,600/tola ($1,070). Similarly, the price of 24-karat gold per 10 grams rose by PKR 4,158 to PKR 256,859 in Pakistan’s domestic market. Since the start of 2025, the gold price in the domestic market has surged by PKR 27,000/tola.
The world's demand for gold reached an all-time high in 2024, driven by robust central bank purchases and increased investment demand, according to the World Gold Council's annual report.
The report highlighted that overall investment demand is expected to stay healthy in 2025, as lower interest rates are anticipated to reduce the opportunity costs of holding gold.
Total gold transactions amounted to 4,974 tons in 2024, up from 4,899 tons in 2023, including over-the-counter (OTC) investments.
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