A troubling situation has emerged for gold buyers and investors in Pakistan as gold prices have once again surged sharply following a marginal decline over the previous two days. Today, the price of gold per tola across the country recorded a significant increase of PKR 3,700. This sudden jump in prices reflects the heightened demand for gold in the international market.
According to the All Pakistan Gems and Jewellers Association, following this major rise, the new price for one tola of gold in the country has reached PKR 423,062. Similarly, the price of 10 grams of gold has also increased by PKR 3,122, settling at PKR 362,707.
Impact of the Global Market:
The primary driver behind the increase in domestic gold prices is the movement in the international market. Globally, the price of gold per ounce recorded a notable rise of $37, pushing the per-ounce price to $4,007.
This volatile fluctuation in prices is making gold an attractive yet uncertain investment. While purchasing gold has become increasingly difficult for the poor and middle class, investors are viewing gold as a safe haven amidst global economic uncertainties.
