Gold Rate in Pakistan Hovers Near Record High After Gaining Rs. 3,400 Per Tola in Two Days:

Gold Rate in Pakistan Hovers Near Record High After Gaining Rs. 3,400 Per Tola in Two Days


Gold prices in Pakistan have risen significantly and are close to their all-time high. On September 6, 2024,  gold prices reached Rs 263,500 per tola,  an increase of Rs 3,400 in just two days. This increase in gold prices is due to price rise in the international market where gold rose by $15 to $2,518 per ounce. This recent increase in gold prices is very close to the all-time high of Rs 263,700 per tola recorded on August 24, 2024. The rise in cost is driven by uncertainties in the global economy such as inflation, geopolitical tensions, and currency fluctuations, which are driving investors to seek safe haven assets such as gold. The devaluation of the Pakistani rupee against the US dollar spurred an increase in local gold prices. This boom affected the local market, making gold increasingly expensive for consumers and leading to a decline in demand.