Gold prices soared to unprecedented levels in both global and domestic markets on Thursday, fueled by ongoing economic uncertainty and heightened investor interest in safe-haven assets.
Market reports indicate that the international bullion price surged by $31 per ounce, setting a new record at $3,052 per ounce. This significant rise reflects strong market demand and economic concerns driving investors toward gold.
Following this global trend, gold rates in Pakistan also experienced a sharp uptick. The price of 24-karat gold per tola climbed by Rs3,200, reaching an all-time high of Rs321,000. Similarly, the rate for 10 grams of gold increased by Rs2,743, hitting Rs275,205.
Experts in the bullion trade attributed this surge to inflationary pressures, currency value fluctuations, and robust demand in the market. As global investors continue to seek stability in precious metals, the local market is expected to mirror these movements.
Frequently Asked Questions (FAQs)
- Why are gold prices increasing globally?
Gold prices are rising due to economic uncertainty, inflation concerns, and increased investor demand for safe-haven assets. - What is the current gold price in Pakistan?
As of the latest update, the price of 24-karat gold per tola in Pakistan stands at Rs321,000, while 10 grams cost Rs275,205. - Will gold prices continue to rise?
Market trends suggest that gold prices may remain volatile, with potential for further increases depending on economic conditions and investor sentiment. - How does the international bullion market affect local gold prices?
Pakistan’s gold prices are directly influenced by international market trends, currency exchange rates, and demand-supply dynamics in the global bullion trade. - Is gold a good investment right now?
Given its status as a safe-haven asset, gold remains a strong investment option during times of economic uncertainty and inflation.
