Gold prices in Pakistan reach record high, despite global decline

Karachi: Gold prices per tola in Pakistan on Saturday reached an all-time high, with an increase of several hundred rupees per tola.

According to sources, the global market witnessed a decrease in gold prices, with gold being priced at $1,917 per ounce, which is significantly lower than the $1,977 per ounce. Despite this global trend, the price of gold in Pakistan continues to rise.

According to the All Pakistan Jewelers Association, the price of gold in Pakistan has increased by Rs. 500 per tola today. The new price for a tola of gold is Rs. 225,500. Additionally, the price of 10-grams of gold has increased by Rs. 429 to reach Rs. 193,330.

This sudden increase in gold prices has left many Pakistanis concerned, especially since the country is already facing economic instability due to the COVID-19 pandemic. The rise in gold prices is likely to lead to an increase in the prices of jewelry and other gold products, which could further harm the country's economy.

It is yet to be seen whether this trend in gold prices will continue or whether there will be a decrease in the coming days. However, for now, many Pakistanis are left worried about the impact this increase in gold prices will have on their financial situation.