Gold prices have once again experienced a significant and exceptional surge in both global and local bullion markets, startling investors and consumers alike. This dramatic increase reflects the mounting global economic uncertainty and the growing trend of viewing gold as a crucial safe-haven asset.
According to the latest reports, the price of gold per ounce in the international bullion market witnessed a major hike of $74, propelling the price to an all-time high of $4,075. This historic global surge has had immediate and powerful repercussions in the domestic market.
In Pakistan, the price of gold per tola has similarly seen a substantial increase of PKR 7,400, bringing it to a record level of PKR 429,862. Furthermore, the price of 10 grams of gold rose by PKR 6,337, settling at PKR 368,530.
Economists are linking this sharp rise in gold prices to both the depreciation of the local currency and escalating global geopolitical tensions. This rapid inflation has transformed gold from an accessible investment or jewelry option into a distant luxury for the average citizen. The situation underscores the severity of global pressures on domestic pricing.
