Islamabad, Fe 19: Gold prices in Pakistan have reached unprecedented levels, with the rate per tola soaring by Rs3,800 to an all-time high of Rs308,000 on Wednesday, February 19, 2025. This surge mirrors the upward trajectory observed in international markets.
The All Pakistan Gems and Jewellers Sarafa Association (APGJSA) reports that the price for 10 grams of gold has also escalated by Rs3,258, now standing at Rs264,060. This follows a previous increase of Rs1,000 on Tuesday, bringing the rate to Rs304,200 per tola.
Globally, gold prices have experienced a significant uptick. The international gold rate has climbed by $34, reaching $2,944 per ounce (inclusive of a $20 premium). This consistent rise underscores the robust demand for gold amid prevailing economic uncertainties.
The recent peak surpasses the prior record set on Friday, when gold prices hit Rs306,200 per tola, indicating intensified investor interest in the precious metal. Concurrently, silver prices have witnessed an upward adjustment, increasing by Rs90 to settle at Rs3,440 per tola.
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Market analysts attribute the escalating gold prices to several global economic factors. Inflationary pressures have eroded the purchasing power of currencies, prompting investors to seek refuge in gold as a hedge against inflation. Additionally, central banks worldwide have been augmenting their gold reserves, aiming to diversify assets and fortify economic stability. Geopolitical tensions and trade disputes further amplify economic uncertainties, driving investors toward safe-haven assets like gold.
In Pakistan, the surging gold prices have profound implications for consumers and the broader economy. The jewelry industry faces challenges as higher costs deter potential buyers, leading to a decline in sales. Traditionally, gold holds cultural significance, especially during weddings and festive occasions. However, with prices reaching such heights, many families are reconsidering their gold purchases, opting instead to repurpose existing jewelry or explore alternative gifts.
Financial experts advise potential investors to exercise caution. While gold often serves as a safe investment during turbulent times, the current price volatility necessitates thorough market analysis and consultation with financial advisors before making investment decisions.
In summary, the historic surge in gold prices in Pakistan is a reflection of global economic dynamics and domestic market responses. As the situation continues to evolve, stakeholders are closely monitoring developments to navigate the challenges and opportunities presented by this unprecedented trend.
