Gold prices in Pakistan have reached an all-time high after registering gains for the fifth consecutive day, fueled by both domestic and international market trends.
According to the latest figures, the price of gold per tola surged by Rs3,600, taking it to a historic peak of Rs367,400. Similarly, the rate of 10 grams of gold rose by Rs3,172, pushing the price to Rs314,986.
The international bullion market also recorded a notable increase, with gold climbing $36 per ounce, reaching $3,447 — one of the highest levels in recent times. Analysts attribute the rise to global economic uncertainty, currency fluctuations, and strong investor demand for safe-haven assets.
This sharp increase comes at a time when consumers in Pakistan are already grappling with high inflation and fluctuating currency exchange rates. Jewelers say demand has slowed in the local market due to record prices, but investors continue to view gold as a reliable hedge against inflation.
Meanwhile, relief may be on the horizon in the petroleum sector, as reports suggest a likely reduction in petrol and diesel prices from September 1. Economists note that while a decline in fuel costs could provide some respite to households and businesses, the soaring price of gold highlights ongoing challenges in financial stability.
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