Gold prices in Pakistan surged to an unprecedented high on Wednesday, with 24 karat per tola gold increasing by Rs. 8,600 to reach Rs. 348,000, according to the All Pakistan Sarafa Gems and Jewelers Association. This marks a significant jump from the previous trading day’s price of Rs. 339,400.
The price of 10 grams of 24 karat gold also saw a substantial increase of Rs. 7,373, rising to Rs. 298,353 from Rs. 290,980. Similarly, 10 grams of 22 karat gold climbed to Rs. 273,500 from Rs. 266,741.
Silver prices also moved upward, though less dramatically. Per tola silver increased by Rs. 63 to reach Rs. 3,460, while ten-gram silver rose by Rs. 54 to Rs. 2,966.
The local price surge reflects similar movements in international markets, where gold prices increased by $86 to reach $3,310 per ounce, up from $3,224. International silver prices also edged higher by $0.63, trading at $32.98 per ounce.
This record-breaking price level comes amid global economic uncertainties and increased investor interest in precious metals as a safe-haven asset. The continuous rise in gold prices has significant implications for consumers and investors in Pakistan, particularly as the wedding season approaches, when gold purchases traditionally increase.
