Karachi, January 1, 2025 – Gold prices in Pakistan surged by Rs 1,000 per tola on Wednesday, reflecting rising trends in global markets. This increase underscores the ongoing volatility in the bullion market and its impact on domestic prices.
The price of 24-karat gold per tola reached Rs 273,600, up from the previous day’s closing of Rs 272,600 in the domestic markets. This rise follows a record high of Rs 287,900 per tola, which was recorded in Pakistan on October 30, 2024. Similarly, the price of 24-karat gold per 10 grams climbed by Rs 857 to settle at Rs 234,568, compared to Rs 233,711 a day earlier.
Experts in the bullion market attributed the increase in gold prices in Pakistan to upward trends in the international markets. The global price of gold rose by $10, closing at $2,624 per ounce from the previous day’s $2,614. This international surge has a direct influence on the pricing of gold within Pakistan, where market dynamics are closely tied to global trends.
The demand for gold in Pakistan remains robust, especially during periods of economic uncertainty and inflationary pressures. Investors often turn to gold as a safe haven, driving up its value in both local and international markets. In recent months, the fluctuations in global gold prices have significantly impacted Pakistan’s bullion market, prompting investors to stay vigilant.
With the start of the new year, the gold market in Pakistan continues to demonstrate its sensitivity to global developments. The consistent rise in prices is a reflection of both international influences and domestic factors such as currency exchange rates and local demand.
As the price of gold in Pakistan inches closer to previous record levels, market participants are closely monitoring international movements for further cues. The interplay between global gains and domestic demand is expected to keep Pakistan’s bullion market active in the coming weeks.