In the local bullion market, the price of gold per tola surged by Rs3,600, reaching a historic high of Rs367,400. This sharp rise has created shockwaves among jewelers, buyers, and investors.

Market sources reveal that the recent spike is mainly due to the soaring US dollar and instability in the global gold market, both of which have directly fueled local prices.

Economists point out that the devaluation of the Pakistani rupee, coupled with investors’ rush to safer assets like precious metals, are the driving forces behind this extraordinary jump.

At the same time, global gold prices also rose significantly. The price per ounce climbed by $36, reaching $3,447. Analysts blame rising international inflation, global uncertainty, and ongoing geopolitical tensions for this trend.

Experts warn that if the global rally continues, gold prices in Pakistan may climb even higher in the coming days. This uncertainty has worried not just ordinary consumers but also those tied to the jewelry industry.

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The record-breaking surge in gold indicates that both domestic and international financial pressures are turning precious metals into the ultimate ‘safe haven’ for investors.

This record surge in gold prices exposes Pakistan’s growing economic vulnerabilities. The rupee’s depreciation has reduced purchasing power, while uncertainty in the global economy has driven investors toward precious metals. For ordinary Pakistanis, gold jewelry has now become almost unaffordable, and for the jewelry industry, this creates declining demand. Unless stability is restored in both the currency and the global market, experts believe the upward trend in gold could continue, making it an even more inaccessible asset for the middle class and small investors.