Gold prices soared to record levels in both international and local markets on Thursday. This surge was fueled by robust global demand, inflation concerns, and significant government purchases.
As economic uncertainty increases, investors are turning to gold as a safe-haven asset, driving prices to new record highs.
In the international bullion market, gold per ounce rose by $12, hitting an all-time high of $3,050. This increase reflects the growing global interest in gold as a hedge against inflation and economic instability.
Gold Prices in Pakistan Soar to Rs320,800 Per Tola
The impact of global price hikes was immediately felt in Pakistan, where 24-carat gold per tola surged by Rs1,800, reaching an unprecedented Rs320,800. Similarly, the price of 10 grams of 24-carat gold climbed by Rs1,543, setting a new high of Rs275,034.
While gold continued to gain value, silver prices dipped. The price of one tola of silver dropped by Rs31, settling at Rs3,524, while the 10-gram rate fell by Rs26 to Rs3,021.
What’s Driving the Gold Price Surge?
Market analysts cite ongoing economic uncertainty, inflationary pressures, and increased central bank gold reserves as key factors driving the price surge. As investors seek more stable assets, gold remains preferred for long-term security and wealth preservation.
With inflation fears rising and economic volatility persisting, gold prices may continue their upward trajectory, making the market one to watch closely.
