Islamabad, Feb 7: Gold prices in Pakistan reached an all-time high, crossing the Rs300,000 per tola mark for the first time. The surge reflects trends in the international market, where gold prices have been steadily rising.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold increased by Rs1,346, bringing it to a historic Rs300,046 per tola. Likewise, the price of 10 grams of 24-karat gold climbed by Rs1,154, reaching Rs257,241. This unprecedented rise highlights the growing demand for gold amid economic uncertainties.
On the global front, gold prices also witnessed an upward trend, rising by $10 per ounce on Friday to settle at $2,869. Additionally, a premium of $20 per ounce further contributed to the price hike, signaling strong investor interest in the precious metal.
Silver prices in Pakistan also followed suit, with 24-karat silver experiencing an increase of Rs51 per tola, bringing the new price to Rs3,378. This spike aligns with the overall bullish sentiment in the precious metals market.
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Experts attribute the rising gold prices to various factors, including global inflation concerns, fluctuating currency values, and increasing demand for safe-haven assets. Investors continue to turn to gold as a hedge against economic instability, leading to sustained price surges both locally and internationally.
With market volatility persisting, analysts predict further fluctuations in gold prices in the coming days. Buyers and investors are advised to stay updated with market trends before making purchasing decisions.
Stay tuned for the latest updates on gold and silver prices in Pakistan.
