Gold price hits all-time high in Pakistan, rises by Rs6,100 per tola

The price of gold in Pakistan surged sharply on Saturday, tracking gains in the international market, according to the All Pakistan Sarafa Gems and Jewellers Association.

The price of 24-karat gold per tola increased by Rs6,100, pushing the rate to a record high of Rs359,000. Meanwhile, the price of 10 grams of gold rose by Rs5,229, reaching Rs307,784.

In the international market, the price of gold per ounce climbed by $61 to settle at $3,363.

Silver prices also recorded an uptick. The rate of one tola of silver increased by Rs53, reaching Rs3,953. The price of 10 grams of silver stood at Rs3,388.88.

The recent surge in gold prices is attributed to growing investor interest in safe-haven assets amid global economic uncertainties and currency fluctuations.

Local factors such as exchange rate volatility and demand trends also play a role in shaping domestic bullion prices.

Market observers say fluctuations in the international market, combined with domestic inflationary pressures, could continue to influence gold rates in the near term.