KARACHI: Gold prices in Pakistan surged on Wednesday, tracking gains in the international bullion market as investors turned to the precious metal amid global economic uncertainty.
According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold rose by Rs3,500 per tola, reaching Rs249,800. Similarly, the price of 10 grams increased by Rs3,001 to Rs214,192.
In the international market, gold prices advanced to around $2,410 per ounce, supported by a weaker US dollar and renewed expectations that the US Federal Reserve may ease interest rates in the coming months. This global uptick reflected strongly in Pakistan’s domestic market, where gold continues to serve as a traditional hedge against inflation and currency depreciation.
Traders said rising geopolitical tensions and persistent inflationary pressures have increased demand for safe-haven assets like gold. The local currency’s depreciation and higher import costs have also contributed to the price hike.
Meanwhile, silver prices also gained, with 24-karat silver rising to Rs2,850 per tola and Rs2,443 per 10 grams. Market analysts expect domestic gold prices to remain volatile, closely tied to global trends and exchange rate fluctuations in the days ahead.
