Gold prices in Pakistan have risen sharply, continuing their upward trajectory. The rate of one tola gold increased by Rs. 2,200, reaching Rs. 276,900 in local markets. Similarly, the price of 10 grams of gold climbed by Rs. 1,886, now standing at Rs. 237,397.
This surge mirrors international market trends, where gold prices rose by $22 per ounce. The global rate now stands at $2,657 per ounce. Market analysts attribute this hike to fluctuations in the international economy and growing demand for safe-haven investments.
Local jewelers in Karachi, the hub of Pakistan’s gold trade, report a significant rise in customer inquiries. Many buyers are flocking to secure investments, fearing further price hikes. Traders link the local increase to the depreciating Pakistani rupee and international gold market volatility.
Economic experts believe the ongoing instability in global markets has pushed investors toward gold. “Uncertainty in financial markets always boosts gold demand,” said a market analyst. The rising dollar index and geopolitical concerns are also influencing the trend.
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The increase in gold prices comes amid Pakistan’s broader economic challenges. Inflation continues to strain household budgets, with gold becoming less accessible for middle-income buyers. Despite this, the demand for gold jewelry remains steady due to cultural preferences and upcoming wedding seasons.
Market observers predict further price fluctuations in the coming weeks. They urge investors to stay updated on both local and global trends. For now, gold remains a preferred choice for those seeking financial security during uncertain times.
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