Gold Price in Pakistan Sustains Record-Setting Rally, Nears Rs. 300,000 Per Tola Mark

Gold price in Pakistan continues its unstoppable rise, causing concern for many who rely on this precious metal for savings, investments, and weddings. As the value inches closer to the Rs. 300,000 per tola mark, consumers are feeling the financial strain. Whether you’re planning to buy gold for personal use or as a long-term investment, the soaring prices are making it harder to afford this essential commodity. Customers want to see these gold prices reduced in contrast to the rise.

Consistent Rise in Gold Prices

The price of gold, including 24-carat, jumped to Rs. 282,300 per tola on Monday, with the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) recording an increase of Rs. 500 from previous days. The price of 10 grams also went up by Rs. 429 and reached Rs. 242,027. These prices are continuously soaring upwards for buyers across the country.

Unprecedented Surge Over the Last Week

Just in the last week alone, the gold price per tola saw a spurt of Rs. 7,300. On October 15, the tola value crossed Rs 275,000 and each of the last five trading sessions saw new record prices, thus making gold unaffordable to a good many people.

International Market Impact

The same goes true all over the world. International wise, Monday is also considered a record-breaking day. Spot gold rose 0.3% to $2,729.40 an ounce, and US gold futures increased by 0.6%, at 2,744.80 an ounce.

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Economic Uncertainty Drives Prices

Inflation, currency devaluation, and uncertainty in the economy globally are continuously pushing the price of gold up both nationally and globally. So, buyers from Pakistan have to wonder when or whether prices can ever stabilize.