Gold prices have reached unprecedented levels in Pakistan, fueled by increases in both international and local markets.
According to News, the global bullion market saw gold prices rise by $29 per ounce, reaching $2,772.
Domestically, gold prices also soared to record highs on Friday. The price of 24-karat gold rose by Rs2,900 per tola, reaching Rs289,600, while 10 grams saw an increase of Rs2,486, settling at Rs248,285. This marks the highest gold price since October 30, 2024, driven by global market trends and heightened local demand.
Silver prices experienced a similar upward trend. The price per tola increased by Rs31 to reach Rs3,432, while the price for 10 grams rose by Rs27 to Rs2,942.
Local market experts attribute these price surges to global inflationary pressures and a depreciating currency, which have raised production costs and consumer prices.
However, gold prices declined yesterday in both global and local markets. The international bullion market recorded an $8 decrease per ounce, bringing the price to $2,743.
In Pakistan, the price of 24-karat gold per tola dropped by Rs750, settling at Rs283,700, while 10 grams saw a reduction of Rs641, bringing the price to Rs245,799.
Similarly, silver prices decreased, with the per-tola price falling by Rs30 to Rs3,401, and the price for 10 grams dropping by Rs26, now standing at Rs2,915.