Gold prices in Pakistan have surged close to Rs300,000 per tola, following record-high international rates. The increase is mainly due to global trade tensions and economic instability.
According to the All Pakistan Sarafa Gem and Jewellers Association, the price of gold has reached Rs256,859 per 10 grams and Rs299,600 per tola. Meanwhile, international gold prices have jumped to $2,868 per ounce.
This sharp rise has affected jewellery sales, with many small jewellers struggling due to lower demand. People are now investing in gold bars instead of jewellery, seeing it as a safer option.
Experts believe a regulatory authority should be introduced to control price fluctuations. The rising cost of gold has made it increasingly difficult for middle-class families to afford jewellery, impacting wedding purchases and traditional gold investments.
The ongoing trade war between the United States and economic tensions across the world have contributed to this price surge. Geopolitical conflicts are also keeping the market under pressure, leading investors to seek gold as a secure asset.
With inflation continuing to rise, gold is becoming less accessible for the average buyer. If global uncertainty persists, prices may increase even further, making it challenging for people to invest in or purchase gold.
Many are now looking to alternative investment options, but gold remains a preferred choice for those seeking financial security. The coming months will be crucial in determining whether prices stabilize or continue to rise.
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