The price of gold increased by Rs. 1,000 per tola on Thursday, reaching a new high of Rs. 492,362 per tola. The price of 10 grams of gold also rose by Rs. 858 to Rs. 421,200.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), this increase is mainly due to rising international gold prices. Global uncertainty, strong demand, and fluctuations in the US dollar have pushed gold prices higher in the world market.
The surge in local gold prices has affected jewelers and buyers across the country. Many people planning to buy gold jewellery for Eid-ul-Azha or weddings are now worried about the high rates.
Dealers say that if international prices continue to rise, local rates may increase further in the coming days. The price of silver also saw a slight increase of Rs. 20 per tola, reaching Rs. 5,650.
Economic experts believe that gold remains a safe investment during times of inflation and economic pressure. However, the continuous rise in prices is making it less affordable for the common man.
Customers are advised to check rates from trusted jewelers before making any purchase. Market analysts expect gold prices to stay high in the near future.
