Gold prices in Pakistan have reached an all-time high, approaching Rs300,000 per tola. This sharp increase is mainly due to record-breaking international gold rates, which have surged because of global trade tensions and economic uncertainty.
According to the All Pakistan Sarafa Gem and Jewellers Association, the new gold prices in the local market are Rs256,859 per 10 grams and Rs299,600 per tola. Meanwhile, global gold prices have climbed to $2,868 per ounce, reflecting the ongoing instability in international markets.
As prices continue to rise, jewellery sales in Pakistan have dropped significantly, especially affecting small jewellers who rely on regular customers. Many investors, however, are shifting their focus to purchasing gold bars instead of jewellery, seeing it as a safer investment during uncertain times.
Experts believe that there should be a regulatory authority to monitor and control gold prices to ensure stability in the market. Additionally, with inflation rising, buying gold has become increasingly difficult for middle-class families, who now struggle to afford jewellery for weddings and other special occasions.
The ongoing US trade war, along with geopolitical conflicts, continues to put pressure on global gold prices, making future trends uncertain.
