Price of gold in Pakistan reaches all-time high

The price of gold in Pakistan soared further on Monday, marking an increase of Rs. 2,800 per tola, inching closer towards the all-time high mark.

Data released by the Karachi Sarafa Association revealed that the price of gold (24 carats) surged to Rs. 237,600 per tola, while the rate for 10 grams rose to Rs. 203,704, up by Rs. 2,401.

This recent surge in gold prices is attributed to the rise in international gold rates, propelling the precious metal’s value upward by Rs. 19,100 per tola throughout the month of March. Should this trend persist, gold is anticipated to surpass the all-time high of Rs. 240,000 per tola in the near future.

In the international market, gold prices continued their record-breaking streak, with spot gold climbing by 0.7 percent to $2,247.48 per ounce as of 1059 GMT. Additionally, US gold futures witnessed a notable increase of 1.3 percent, reaching $2,268.10.

The surge in both local and international gold prices underscores the heightened demand and investor interest in the precious metal as a safe-haven asset amidst economic uncertainties and market volatility.

Also, see:

All About the 2024 Honda CD 70: Price in Pakistan, Features & More