Karachi, February 5, 2025 – Gold prices in Pakistan have soared to an unprecedented high, reaching close to Rs 300,000 per tola on Wednesday, marking a historic milestone in the country’s bullion market. The continuous upward trend has left investors and traders closely monitoring further developments.
The gold prices in Pakistan surged by Rs 5,300 per tola, bringing the new rate to Rs 299,600, surpassing the previous day’s closing of Rs 294,300. Similarly, the price of 24-karat gold per 10 grams increased by Rs 4,158, reaching Rs 256,859 from the earlier Rs 252,314 in Pakistan’s domestic market.
Bullion market analysts have attributed this sharp rise in gold prices in Pakistan to the soaring international rates. The global market witnessed a substantial increase, with gold prices climbing by $53 per ounce, reaching $2,858 from the previous closing of $2,815. Experts suggest that the rally in gold prices is primarily driven by geopolitical uncertainties and economic concerns worldwide.
One of the key factors fueling the surge in gold prices in Pakistan is the recent statement by US President Donald Trump regarding the ongoing Gaza conflict. Market analysts believe that heightened tensions in the Middle East have further boosted the demand for gold as a safe-haven asset. Given the ongoing geopolitical instability, experts predict that gold prices in Pakistan may continue their upward trajectory in the coming days.
Moreover, the persistent depreciation of the Pakistani Rupee against the US Dollar has also played a crucial role in the price hike. As the Rupee weakens, the cost of importing gold increases, leading to inflated prices in the local markets. Investors and traders are now eyeing further movements in the gold prices in Pakistan, with many anticipating another record-breaking jump if the current trends persist.
The recent surge in gold prices in Pakistan has also had a direct impact on jewelry markets, where buyers are now facing higher costs for gold ornaments and investment-grade bullion. With global uncertainties continuing to drive demand, the gold prices in Pakistan remain on an upward spiral, reinforcing the metal’s status as a reliable store of value amidst economic turbulence.