Karachi, January 2, 2025 – Gold prices in Pakistan witnessed a significant increase of Rs 1,100 per Tola on Thursday, January 2, 2025, following the upward trend in global bullion markets. This rise comes amidst continued economic uncertainty and rising demand for the precious metal as a safe-haven asset.
The price of 24-karat gold per Tola surged from Rs 273,600 to Rs 274,700 in local markets. This marks an upward shift after a period of relative stability. However, despite the increase, gold prices are still lower than their record high of Rs 287,900 per Tola on October 30, 2024, when Pakistan’s gold market saw unprecedented price levels.
Similarly, the price of 24-karat gold per 10 grams also saw a rise, increasing by Rs 943 to reach Rs 235,511, compared to the previous day’s closing of Rs 234,568. This change further reflects the global and local factors influencing gold pricing in Pakistan.
Market experts suggest that the rise in prices is primarily linked to the developments in the international gold markets. In the global arena, gold prices increased by $11, reaching $2,635 per ounce, up from $2,624 the previous day. The increase in global prices has been attributed to a variety of factors, including inflation concerns, geopolitical tensions, and a weaker US dollar.
Gold has long been considered a reliable store of value, especially in uncertain times. As inflation continues to be a concern for many economies, including Pakistan, more investors are turning to gold as a hedge against inflation and currency depreciation. This growing demand for gold is contributing to the persistent increase in its prices across both local and international markets.
The price of gold is expected to continue fluctuating in the coming weeks, with experts advising investors to keep an eye on both domestic and global developments that could impact bullion prices.