Karachi, January 31, 2025 – Gold prices in Pakistan soared to an all-time high on Friday, reaching Rs 291,800 per tola, driven by a sharp surge in international bullion markets. The continuous upward trajectory of gold rates has been a cause of concern for investors and jewelry traders across Pakistan.
The latest increase marks a Rs 1,500 rise from the previous day’s closing price of Rs 290,300, which was already a historic peak in the local gold market of Pakistan. Similarly, the price of 24-karat gold per 10 grams witnessed a notable hike of Rs 1,286, settling at Rs 250,171, up from the prior day’s Rs 248,885.
Market analysts and bullion experts attribute the dramatic spike in gold prices in Pakistan to global trends, where the yellow metal has seen significant appreciation. The international gold market recorded a sharp rise, with prices climbing $14 per ounce, reaching a record-breaking $2,792 per ounce, compared to the previous day’s closing of $2,778 per ounce.
Financial experts highlight that the continued depreciation of the Pakistani Rupee, coupled with global economic uncertainty and inflationary pressures, has fueled demand for gold as a safe-haven asset in Pakistan. Investors are increasingly turning to precious metals, further driving up domestic prices.
Given the volatile nature of the global bullion markets, Pakistan’s gold traders anticipate continued fluctuations in the coming days. Jewelers and market participants in Pakistan are closely monitoring international economic trends and currency exchange rates to assess future price movements.
With gold prices at an all-time high, financial analysts urge potential buyers and investors in Pakistan to exercise caution, as further price swings remain a strong possibility. The rise in gold rates also impacts affordability, influencing wedding season demand and overall consumer sentiment in Pakistan’s jewelry industry.
As Pakistan grapples with rising inflation and economic challenges, the record-breaking surge in gold prices underscores the intricate link between global markets and the country’s financial stability.