Gold price surge in Pakistan, reaches Rs256,500 per tola

KARACHI: The price of gold in Pakistan has surged by Rs 1,000 per tola, reaching a new high of Rs 256,500, ARY News reported on Friday.

According to the All Pakistan Gems and Jewelers Association, the price of 10 grams of gold rose by Rs 857, now standing at Rs 219,907.

This price increase aligns with the international market, where gold has climbed to $2,430 per ounce.

The recent surge in gold prices is a reflection of the metal’s enduring status as a safe-haven asset, particularly during periods of inflation, political turmoil, and economic uncertainty.

READ: Gold price in Pakistan reaches Rs255,500 per tola

Gold has historically been considered a stable store of value, often attracting investors seeking to hedge against volatility in other financial assets.

In Pakistan, the pricing mechanism for gold underwent a significant change last year, now setting the local gold price $20 higher per ounce than the international market rate.

The continued increase in gold prices suggests sustained demand for the precious metal, as investors remain cautious amid global economic challenges.