After this remarkable increase, the precious stone reached Rs338,500, up from Rs336,100, according to the All Pakistan Sarafa Gems and Jewelers Association.
The momentum carried over to 10 grams of 24 karat gold, which rose by Rs2,058 to Rs290,209 from Rs288,151. Meanwhile, 10 grams of 22 karat gold climbed by Rs1,886 to Rs266,034 from Rs264,148.
Silver also witnessed a jump. Per tola silver increased by Rs33 to Rs3,410, and 10 gram silver saw a Rs28 gain, settling at Rs2,923.
International markets mirrored the local trend, with gold jumping by $24 to $3,201 per ounce, and silver rising by $0.33 to reach $32.28.
With both domestic and global gold prices on a bullish run, buyers are left wondering — is this the start of a record-breaking rally or the peak before a fall?
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The remarkable increase in gold prices—like the recent surge to Rs338,500 per tola—has different impacts on buyers and sellers in the market.
With prices skyrocketing, many middle and lower-income buyers can no longer afford to buy gold, especially for weddings or savings.
Buyers tend to postpone buying gold in hopes that prices will fall again, leading to a temporary demand dip in the local market.
Making gold jewelry becomes significantly more expensive, affecting not only individuals but also jewelry businesses that rely on steady orders.
Some consumers may switch to silver, gold-plated items, or other metals as more affordable options.
Sellers who already have gold in stock bought at lower prices can earn significant profits if they sell during a surge.
While per-unit profits may rise, overall sales may decline as many buyers become hesitant to purchase at high rates.
Jewelers must be cautious with restocking. Buying gold at peak prices can be risky if a correction follows and prices fall.
With more valuable inventory, security risks and insurance premiums rise for sellers.
Both buyers and sellers become cautious. Some investors see gold as a safe haven and may continue buying, but ordinary consumers may stay away.
Fluctuations like this often trigger speculation, black market trading, and hoarding.
