Gold prices hit record high in Pakistan – Another shock for inflation-weary citizens!
KARACHI: (Web Desk) Already crushed by rising inflation, people in Pakistan have been hit by another financial blow — gold prices have reached an all-time high in the local market.
KARACHI: (Web Desk) Already crushed by rising inflation, people in Pakistan have been hit by another financial blow — gold prices have reached an all-time high in the local market.
According to the All Pakistan Gems and Jewellers Association, the price of gold per tola has surged by a staggering Rs8,600, bringing the new rate to Rs348,000 per tola, the highest ever recorded in the country!
Similarly, the price of 10 grams of gold increased by Rs7,373, now being sold at Rs298,353.
But it’s not just a local trend. Global gold prices have also spiked. As per reports, the international gold market saw an $86 increase, pushing gold to $3,310 per ounce — one of the highest rates in recent months.
Economic experts say that global inflation, a weakening dollar, and geopolitical tensions have led investors to turn to gold as a safe haven, fueling the continuous rise in prices.
Meanwhile, ordinary consumers, especially wedding planners and jewelry buyers, are feeling the pressure. With gold becoming unaffordable, many families are now rethinking their wedding budgets and jewelry purchases.
If international tensions continue and inflation remains high, could gold hit Rs. 4 lakh per tola? Only time will tell, but for now, buyers are left stunned and worried.
