KARACHI: Gold prices witnessed a significant surge across Pakistan on Monday, with the price of one tola rising by more than Rs10,000 amid a sharp increase in international bullion markets.
According to the All Pakistan Gems and Jewellers Association, the price of 24-karat gold per tola increased by Rs10,800, reaching Rs455,136 in the local market.
Similarly, the price of 10 grams of gold recorded a substantial rise of Rs9,720, climbing to Rs389,600. The latest increase reflects continued volatility in precious metals markets, where investor demand for safe-haven assets remains strong.
Market analysts attributed the sharp rise in domestic gold prices to gains in the international market, as global investors shifted towards gold amid economic uncertainty and fluctuations in financial markets. Currency movements and international geopolitical developments also played a role in driving prices higher.
In the global bullion market, gold gained $108 per ounce, pushing the international price to $4,327 per ounce. The increase in global prices was quickly reflected in Pakistan’s local market, where gold rates are largely linked to international trends and exchange rate movements.
Jewellers and traders said the latest surge could affect consumer demand, particularly during the ongoing wedding season and for investment purchases. Higher prices often lead buyers to postpone purchases or opt for lighter jewellery items.
Despite the sharp increase, industry experts noted that gold continues to be viewed as a preferred store of value during periods of uncertainty. Investors frequently turn to the precious metal as a hedge against inflation, currency depreciation and market instability.
The domestic gold market has experienced notable fluctuations in recent months, closely tracking developments in global commodity markets. Traders expect prices to remain sensitive to international economic data, central bank policies and geopolitical events in the coming weeks.
Market participants will continue to monitor global trends as they assess the future direction of gold prices both internationally and within Pakistan.