KARACHI – Gold prices in Pakistan continued their upward trend on Monday, rising by Rs3,900 per tola amid increasing rates in the international market.
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According to the All Pakistan Gems and Jewellers Association, the price of gold per tola climbed to Rs475,962 after the latest increase. Similarly, the price of 10 grams of gold rose by Rs3,343, reaching Rs408,060 across local markets.
The surge in domestic prices mirrors a rise in global rates, where gold gained $39 per ounce to reach $4,533. Analysts attribute the increase to heightened geopolitical tensions and investor preference for safe-haven assets amid global uncertainty.
Gold is often seen as a hedge against inflation and economic instability, and its demand typically rises during periods of crisis. The ongoing volatility in international markets, partly driven by geopolitical developments, has contributed to the steady climb in bullion prices worldwide.
Local traders noted that the persistent increase in gold rates has impacted buying patterns, with many consumers adopting a cautious approach due to affordability concerns. Despite this, demand for gold as an investment remains strong, particularly among those seeking to protect their wealth against currency fluctuations.
Market experts suggest that gold prices may remain volatile in the coming days, depending on global economic conditions and geopolitical developments. Any further escalation in international tensions or shifts in currency markets could continue to influence bullion rates.
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The latest hike adds to the financial pressure on consumers already grappling with inflation, while investors continue to monitor trends closely for potential opportunities in the precious metals market.