KARACHI: Gold prices in Pakistan skyrocketed to an all-time high on Monday, continuing their upward momentum amid global market uncertainty and sustained pressure on the local currency.
According to the All Sindh Sarafa Jewellers Association, the price of 24-karat gold surged by Rs 5,500 per tola, reaching a record-breaking Rs 428,200 per tola — the highest in the country’s history.
Likewise, the rate of 10 grams of gold increased by Rs 4,715, climbing from Rs 362,397 to Rs 367,112 compared to the previous week’s closing figures.
In the international bullion market, gold prices jumped by $55 per ounce, settling at $4,071 per ounce. The silver market followed the trend, with the price of 10 grams of silver rising by Rs 147 to Rs 4,498, while the global silver price stood at $51.60 per ounce.
Market analysts link the persistent surge in gold prices to geopolitical tensions, global economic volatility, and the depreciation of the Pakistani rupee. These factors have led investors to turn toward gold as a safe-haven asset amid ongoing financial uncertainty.
