Karachi, January 3, 2025 – Gold prices in Karachi surged by Rs 2,200 per tola on Friday, reflecting the impact of rising trends in international bullion markets. This sharp increase has drawn attention in the city, which is known for its vibrant gold trade and bustling jewelry markets.
The price of 24-karat gold per tola in Karachi reached Rs 276,900, compared to the previous day’s closing rate of Rs 274,400. This increase comes as the global gold market remains volatile, influencing local prices. Karachi’s traders and investors closely monitor these fluctuations, as the city serves as a hub for gold trading in Pakistan.
In addition, the price of 24-karat gold per 10 grams also rose by Rs 1,886, settling at Rs 237,397 from the prior day’s closing of Rs 235,311. While the current rates are significant, they are still below the all-time high of Rs 287,900 per tola recorded on October 30, 2024.
Experts in Karachi’s bullion market have attributed this surge to rising gold prices in the international markets. On Friday, global gold prices increased by $22 per ounce, reaching $2,657 compared to $2,635 on Thursday. This upward trend has pushed local prices higher, as Karachi’s gold market remains closely tied to international dynamics.
Karachi, being Pakistan’s largest economic center, experiences the immediate impact of global gold price movements. The city’s jewelry retailers and investors often react quickly to shifts in international markets, leading to changes in demand and pricing.
The recent spike in prices underscores the importance of gold as a safe-haven asset, particularly in times of economic uncertainty. Many residents of Karachi, including small investors, view gold as a reliable store of value, further driving demand despite rising costs.
As gold prices continue to climb, traders and buyers in Karachi remain vigilant. With the international market showing no signs of stabilization, further changes in local gold prices are anticipated in the coming days. Karachi’s jewelry markets are expected to stay busy as investors and consumers navigate the evolving landscape of the precious metals market.