Gold prices soar to record high of Rs 292,200 per Tola in Pakistan

Gold prices soar to record high of Rs 292,200 per Tola in Pakistan

Karachi, February 1, 2025 – Gold prices in Pakistan surged to an all-time high on Saturday, reaching Rs 292,200 per tola, driven by a sharp increase in international markets.

The persistent rise in gold prices continues to attract significant attention from investors and market analysts, fueling speculation about further price hikes in the coming days.

According to local bullion markets, the gold prices for 24-karat per tola climbed to Rs 292,200, surpassing the previous day’s record of Rs 291,800. Similarly, the gold prices for 24-karat per 10 grams witnessed an increase of Rs 343, settling at Rs 250,514, compared to the previous day’s Rs 250,171.

Market experts attribute this relentless uptrend in gold prices to ongoing global economic uncertainties, which have led investors to turn towards safe-haven assets such as gold. Analysts further explain that factors including geopolitical tensions, inflationary pressures, and fluctuating currency values have played a key role in driving up gold prices both locally and internationally. The continuous weakening of the Pakistani rupee against the US dollar has further intensified the impact of rising global prices on the domestic market.

On the global front, gold prices surged by $5 per ounce, pushing the price to $2,797 per ounce as compared to the last day’s closing price of $2,792. This uptick in international bullion markets has directly influenced the rising gold prices in Pakistan, further strengthening the domestic market’s bullish trend.

Financial analysts predict that if global gold prices continue on this upward trajectory, the local markets may witness further increases in the coming days. Jewelry traders and investors are closely monitoring global market fluctuations, as any substantial movement in international rates could significantly impact the domestic bullion market.

Given the ongoing trend, experts advise market participants to stay updated on economic developments and global trading patterns, as any shifts in international gold prices could have immediate repercussions on the domestic bullion market. Additionally, many investors are now considering gold as a hedge against inflation and economic instability, further increasing demand in both local and international markets.

With uncertainty surrounding global financial markets, analysts suggest that gold prices may remain volatile in the near future. Market participants are advised to exercise caution while making investment decisions, keeping a close watch on both currency exchange rates and international bullion price trends.