According to reports, a significant increase in gold prices was observed both globally and locally. Over the week, the price of gold rose by Rs5,100 per tola, reaching a historic high of Rs277,000.
During the review period, the price of 10 grams of 24-karat gold increased by Rs4,372, reaching Rs237,482. In the international market, the gold rate per ounce climbed by $48 to $2,665.
Meanwhile, rising global prices have led to a sharp decline in gold imports in Pakistan. Official data shows a 41.64% annual drop in gold imports in August, with Pakistani importers bringing in only 22kg of gold, costing $1.742 million.
In contrast, during the same period last fiscal year, 47kg of gold was imported with a bill of $2.985 million. Additionally, 10kg less gold was imported in August compared to July.
Experts attribute the rise in gold prices to various factors, particularly the global war situation, which has impacted international markets and the dollar exchange rate.