Gold Prices in Pakistan Hit Record High | Latest International Market Update
Gold, often called the “metal of safety”, has once again made headlines after its prices touched record-breaking levels in Pakistan as well as in the international market. The sharp rise has affected jewelers, investors, and ordinary buyers alike.
Gold Prices in Pakistan Hit Historic Peak
According to the latest figures released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA):
- The price of 1 tola gold surged by Rs. 6,000, reaching Rs. 376,700.
- The rate of 10 grams of gold increased by Rs. 5,144, climbing to Rs. 322,959.
- Silver also witnessed a rise, with 1 tola silver gaining Rs. 12 to touch Rs. 4,315.
These numbers mark the highest-ever levels for both gold and silver in Pakistan’s history.
International Gold Market Trends
The surge in Pakistan is closely tied to developments in the international market. Globally, gold prices rose sharply:
- The price of gold per ounce increased by $60, reaching $3,540.
This increase reflects the worldwide trend where gold continues to strengthen against uncertainties in the global economy.
Why Are Gold Prices Increasing So Rapidly?
The rise in gold prices is not sudden—it is the result of several underlying factors:
- Global Inflation: With costs of goods and services rising worldwide, gold naturally becomes more valuable.
- Economic Instability: During uncertain times, investors prefer gold because it holds its value better than other assets.
- Currency Pressure: A weaker rupee against the dollar makes gold imports more expensive, directly affecting local markets.
- Rising Demand: Both jewelry demand and investment demand are putting additional pressure on prices.
Impact on Ordinary People
While investors might see this as an opportunity, the soaring price of gold is challenging for ordinary citizens:
- Wedding Costs: Families planning weddings are hit hardest as gold jewelry becomes unaffordable.
- Investors’ Advantage: Those who invested in gold earlier are seeing strong returns.
- Everyday Buyers: Many people can no longer afford even small pieces of jewelry due to the skyrocketing rates.
Comparison With Previous Years
In just the past few years, gold prices have climbed to levels no one predicted:
- A few years ago, gold was considered expensive when it crossed Rs. 100,000 per tola.
- Today, that figure has nearly tripled, showing how rapidly the market has changed.
- This trend is expected to continue unless global conditions stabilize.
Common Questions About Gold Prices
Why is gold seen as a safe investment?
Gold rarely loses its value. Even during economic crises, it holds strong, which is why it is known as a “safe haven.”
Will gold prices continue to rise?
Experts believe that as long as inflation and uncertainty remain, gold prices are likely to climb further.
Is this the right time to buy gold?
For long-term investors, gold still remains a reliable choice. However, for jewelry buyers, this may not be the best time due to extremely high costs.
How do international gold prices affect Pakistan?
Since Pakistan relies heavily on imported gold, any increase in global prices directly impacts local markets.
Conclusion
The record-breaking surge in gold prices is a clear reflection of global economic challenges. While investors are enjoying profits, ordinary people, especially families preparing for weddings, are struggling to cope with the rising costs.
Gold has once again proven why it is considered the metal of safety, but for now, it comes at a heavy price for common citizens. Unless the world economy stabilizes and inflation eases, gold prices are likely to remain high and may climb even further.
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