Inflationary Pressure and Commodity Rally
KARACHI – The upward trajectory of gold prices continues unabated in Pakistan, with the precious metal registering another significant increase today. The price of gold per tola has climbed by Rs 5,900, placing additional economic strain on consumers and jewelry buyers across the country.
According to figures released by the All Pakistan Gems and Jewellers Association, the price of one tola of gold has surged to Rs 435,762 following the latest jump. This relentless increase comes after previous reports of steep rises, including one where the price soared by Rs 7,400 per tola.
Similarly, the price of 10 grams of gold saw an increase of Rs 5,065, bringing its new value to Rs 373,595.
International Market Fuels the Rise
The primary driving force behind the domestic price rally is the sharp increase observed in the international market. Globally, the price of gold per ounce rose by $59, reaching a high of $4,134 per ounce. This sustained rally in the international gold price is often reflective of global economic uncertainty, inflationary pressures, and devaluation trends in global currencies.
