Gold prices in Pakistan have skyrocketed, reaching historic highs following a significant increase in both international and local markets.
In Karachi, the price of 24-carat gold surged by Rs2,900, pushing the per tola rate to a record-breaking Rs265,900. Similarly, the price of 10 grams of 24-carat gold jumped by Rs2,486, bringing it to Rs227,966.
The surge in local gold prices aligns with a sharp rise in global markets, where gold saw an increase of $51, reaching $2,566 per ounce. This upward trend in the international market has driven local prices to unprecedented levels.
The continuous rise in gold prices can be attributed to various factors, including global economic uncertainty, inflationary pressures, and fluctuating currency values, prompting investors to turn to gold as a safe haven.
