Significant Rise in Gold Prices in Pakistan

Karachi: The recent increase in gold prices in Pakistan has captured public attention. After a decline in prices over the past weeks, both local and international markets are witnessing a resurgence, raising concerns among investors and the general public.
In the local market, the price of gold has surged by 1,600 PKR per tola, reaching 285,000 PKR. Similarly, the price for 10 grams of gold has increased by 1,372 PKR, now standing at 244,342 PKR. The price of 22-carat gold has also been affected, with 10 grams now costing 223,980 PKR.
On the international front, gold prices are also on the rise, with an increase of 16 USD per ounce, bringing the global price to 2,755 USD. This increase is attributed to ongoing economic issues and various financial factors globally.
Economic analysts suggest that rising inflation and uncertainty in the global economy are leading investors to consider gold as a safe investment, which is driving up its prices.
The fluctuations in gold prices are impacting families preparing for weddings, as purchasing gold is becoming increasingly difficult, particularly for those intending to buy it for marriage ceremonies. Additionally, the rising value of the dollar is directly affecting gold prices.
Experts indicate that the volatility in gold prices is closely tied to global economic conditions.