In Pakistan’s local gold market, the price of 24-karat gold per tola rose by Rs1,500, pushing the new rate to Rs359,300. This unexpected spike has intensified concerns among buyers struggling with rising inflation.

According to the All Pakistan Sarafa Association, the 10-gram price of 24-karat gold has increased by Rs1,114, now priced at Rs308,041.

Prices of 22-karat gold also witnessed a rise. The 10-gram 22-karat gold rate climbed by Rs1,022, reaching Rs282,381.

The international gold market mirrored this trend. The global price of gold per ounce rose by $13, now sitting at $3,366, indicating rising investor confidence amid global uncertainties.

Experts believe that the ongoing fluctuations in gold prices are directly linked to the volatile global political and economic environment. Analysts warn that further ups and downs in gold rates are likely in the coming days.

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The sharp rise in gold prices, both locally and internationally, reflects increasing investor interest in safe assets amid global instability. For local buyers in Pakistan, however, it’s a growing cause for concern as affordability continues to decline.

With the global economy facing uncertainties and inflationary pressures mounting, gold may continue to remain volatile but attractive for investors. Buyers, especially in the wedding season, may need to make quicker decisions or brace for more price hikes ahead.