Gold soars to Rs 321,000 per tola in Pakistan

Gold prices in Pakistan rose once again on Wednesday, reflecting a significant increase in the international market.

The global price of gold climbed by $30, reaching $3,040 per ounce. In response, domestic markets recorded a hike of Rs 3,000 per tola, with the new rate standing at Rs 321,000 per tola.

The price of 10 grams of gold also rose by Rs 2,572 to Rs 275,205.

Local jewellers attribute the surge to ongoing global economic uncertainty, geopolitical tensions, and the depreciation of the Pakistani rupee.

While gold is often viewed as a safe investment during periods of instability, its rising cost is placing it out of reach for many consumers in Pakistan.

Purchasing gold for traditional occasions, especially weddings, has become increasingly difficult for the average buyer due to the consistent upward trend in prices.