gold price per tola high Gold Prices in Pakistan Hit Record High Amid Global Economic Uncertainty
KARACHI: Gold prices in Pakistan soared to an unprecedented level on Saturday, following a sharp increase in international bullion rates. The latest surge has once again positioned gold as the most sought-after safe-haven asset amid ongoing global economic instability and currency fluctuations.
According to market reports, the price of gold per ounce in the international bullion market jumped by $21, reaching a new all-time high of $4,016. This surge has directly impacted domestic markets, where the price of 24-karat gold rose by Rs2,100 per tola, setting a fresh national record at Rs422,700.
Meanwhile, the rate of 10 grams of 24-karat gold climbed by Rs1,800, bringing the new price to Rs362,397 across major cities, including Karachi, Lahore, and Islamabad.
gold price per tola high Global Gold Rally Pushes Prices to Historic Levels
The international bullion market has witnessed an upward rally over the past several weeks, driven primarily by concerns over geopolitical tensions, inflationary pressures, and weakening global currencies.
Economists believe that investors are increasingly shifting toward gold as a safe investment option, especially amid uncertainties surrounding global stock markets, oil prices, and central bank policies.
“Gold has once again proven its strength as a hedge against inflation and financial instability,” said Tahir Qureshi, a Karachi-based financial analyst. “As central banks continue to buy gold reserves and global currencies show signs of weakness, the yellow metal’s long-term outlook remains bullish.”
In the global market, the recent rally has been supported by strong buying activity from both institutional investors and individual traders seeking refuge from volatile equity markets.
gold price per tola high Impact on Local Bullion Markets
In Pakistan, the local bullion markets closely follow trends in international gold prices, with adjustments made daily based on global movements and the rupee’s exchange rate against the U.S. dollar.
Traders at the All Pakistan Gems and Jewellers Association (APGJA) confirmed that the domestic gold market has remained active throughout the week, with demand for physical gold increasing despite higher prices.
According to APGJA President Haji Haroon Rasheed Chand, the rise in local prices reflects both the global market situation and the rupee’s recent depreciation against the dollar. “Whenever the rupee weakens, gold becomes more expensive for local buyers, even if global prices remain stable,” he said.
The Pakistani rupee has experienced mild pressure in recent days due to fluctuating forex reserves and external debt payments. This has further magnified the impact of global gold price hikes in the local market.
gold price per tola high Investors Turn to Gold as Safe Haven
With inflationary concerns rising and uncertainty surrounding energy prices, Pakistani investors are increasingly turning toward gold as a safe-haven investment.
Traditionally, gold has been a preferred asset for those seeking protection from currency volatility and inflation. During times of economic instability, individuals often shift their savings from cash or equities into precious metals, viewing them as a store of value that retains purchasing power over time.
“Gold prices may seem high, but they offer long-term stability compared to volatile investment markets,” explained Nabeel Ahmed, a senior investment consultant based in Lahore. “We are seeing renewed interest in physical gold and gold-backed investment products as a result.”
Many small investors and middle-class households have also resumed purchasing gold jewelry, coins, and small bars as a hedge against future economic shocks.
gold price per tola high Global Factors Behind the Surge
Several global factors have contributed to the recent rally in gold prices:
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Geopolitical Tensions:
Ongoing conflicts in Eastern Europe and the Middle East have prompted investors to seek refuge in safe-haven assets like gold. Uncertainty over global peace and trade routes continues to drive demand for bullion. -
Economic Slowdown Fears:
Signs of economic slowdown in major economies such as the U.S. and China have raised fears of reduced growth, leading to a greater preference for stable assets like gold. -
Central Bank Purchases:
Central banks across Asia and the Middle East have been increasing their gold reserves to diversify holdings and reduce dependency on the U.S. dollar. -
Inflation and Interest Rates:
Despite efforts by central banks to control inflation through rate hikes, consumer prices remain elevated globally. Gold, which typically moves inversely to interest rates, has benefited from investor sentiment that inflation will persist longer than expected.
gold price per tola high Pakistan’s Jewelry Sector Feels the Pressure
While investors may benefit from rising gold prices, the jewelry sector faces challenges as consumer purchasing power weakens.
Local jewelers in Karachi and Lahore report a decline in retail sales, especially among middle-income customers. “People are now buying smaller pieces or lighter designs because they can’t afford large purchases anymore,” said Rashid Iqbal, a gold trader in Lahore’s Liberty Market.
Wedding season, typically a high-demand period for gold jewelry, has seen subdued activity due to high prices. Some customers are opting for gold-plated or artificial alternatives instead of pure gold ornaments.
Despite lower sales volumes, jewelers are optimistic that the long-term trend will stabilize once global markets settle and the rupee regains some strength.
gold price per tola high Future Outlook: Can Gold Go Higher?
Experts predict that gold may continue its upward trend in the short term if global inflation remains stubborn and geopolitical risks persist. However, a correction could follow once central banks signal confidence in achieving economic stability.
“The $4,000 per ounce mark is psychologically significant,” said Ali Raza, a commodities analyst at Topline Securities. “If gold sustains above this level for several sessions, we may see further momentum pushing it to $4,050 or even $4,100 in the coming weeks.”
Local traders also expect volatility to persist, especially with global financial markets adjusting to shifting U.S. dollar trends and possible interest rate decisions from the Federal Reserve.
gold price per tola high Conclusion: Gold Remains a Symbol of Security
The record-breaking surge in gold prices underscores its enduring role as a symbol of financial security and economic resilience.
For millions of Pakistanis, gold remains not only a traditional form of savings but also a reliable shield against uncertainty. Whether prices stabilize or rise further, the precious metal’s allure continues to captivate investors and consumers alike.
As global markets evolve and inflationary pressures persist, gold’s glitter shows no sign of fading anytime soon.
