In a shocking turn of events, the price of gold in Pakistan has exceeded 5.37 million rupees per tola, leaving everyone bewildered. While the prices of gold have been consistently increasing since the COVID-19 pandemic, the sudden surge in prices has raised several questions. Is the reason behind the surge in gold prices global circumstances or our unstable economy? Are people losing faith in paper currency and turning to gold investments? Or is it the excessive demand for gold that has pushed up its prices?
Historically, gold has been regarded as a precious and unique metal, valued not only for its monetary worth but also for its cultural, religious, and social significance. From ancient times, humans have been fascinated by gold, seeking to discover new gold reserves, extracting gold from mines, and refining it through chemical processes. In the past, royal treasures were often filled with gold, and ancient kingdoms used gold to showcase their power and majesty.
In India, particularly in southern regions like Tamil Nadu, Kerala, and Andhra Pradesh, there are many temples where gold-plated idols and treasures can still be seen. During the Mughal era, India was known for its abundance of gold, with the ruler distributing gold to the poor as a symbol of his generosity. Even today, gold is used extensively in Indian weddings and other celebrations.
However, the introduction of paper currency by the East India Company changed the dynamics of gold in India. As the company’s power grew, it introduced paper notes, which were used to compensate laborers, farmers, and traders for their hard work. Meanwhile, gold coins and other gold items were taken out of circulation, and the government claimed that paper currency was equivalent to gold. However, this promise was never fulfilled, and the value of gold continued to rise.
In Pakistan, the price of gold has seen a remarkable increase since independence in 1947. From 57 to 60 rupees per tola in 1947, the price of gold has now soared to 5.37 million rupees per tola, a staggering 6,500-fold increase. Globally, the price of gold has also reached a record high of $5,200 per ounce, making it a lucrative investment opportunity for many.
Experts point out that the price of gold tends to rise during times of economic instability and global turmoil. As people lose faith in paper currency, they turn to gold as a safe-haven investment. The recent surge in gold prices can be attributed to the ongoing global tensions, regional conflicts, and economic uncertainty.
To address these concerns, it is essential for peace-loving organizations and governments to work towards resolving global conflicts and promoting stability. By doing so, we can create a more secure and prosperous world, where the value of gold is not the primary concern.
In related news, the Pakistan Super League (PSL) has announced the last date for player retention, while the Pakistani government has formed a new educational working group with its international counterparts. The International Cricket Council (ICC) has also launched the official song for the 2026 T20 World Cup.
