Gold prices soar to new heights in Pakistan

Pakistan's gold market witnessed another significant surge on Wednesday, with prices inching closer to the Rs300,000 per tola milestone. 

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-carat gold rose by Rs2,000 per tola to Rs285,400, while 10 grams increased by Rs1,714 to Rs244,684.

This marks the seventh consecutive increase in gold prices in the local market, with each rise setting a new record. 

The upward trend mirrors international market movements, where spot gold reached an all-time high of $2,755.30 per ounce.

analysts attribute this surge to global economic factors, including inflation and currency fluctuations.

Experts predict that gold prices will continue to track international trends, with potential fluctuations based on global economic developments. Investors are advised to monitor market movements closely.

Key Statistics:

Price Increase: Rs2,000 per tola (24-carat) and Rs1,714 per 10 grams

Current Prices: Rs285,400 per tola (24-carat) and Rs244,684 per 10 grams

Year-end 2023 Price: Rs220,000 per tola

Percentage Increase: Nearly 30% (Rs65,400 per tola)