Gold Prices Surge Again in Domestic Market

News Desk

KARACHI: Gold prices in Pakistan witnessed another upward surge on Tuesday, driven by a sharp rebound in global bullion rates and persistent domestic currency volatility, local market dealers confirmed.

The price of 24-karat gold rose significantly per tola, reflecting heightened international demand and broader economic uncertainties across financial markets.

According to official data released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold climbed sharply across local bullion trading hubs in Karachi, Lahore, and Islamabad.

Concurrently, 10-gram 24-karat gold registered a parallel increase, while 22-karat gold rates were adjusted upward accordingly.

Financial analysts attribute the sharp domestic surge directly to international spot market rallies, where precious metals traded higher per ounce due to shifts in global central bank policy expectations and safe-haven buying.

The persistent rally in gold prices poses substantial economic challenges for domestic consumers, particularly households preparing for the wedding season, who are increasingly priced out of the retail market.

Economists note that gold continues to serve as a primary hedge for investors seeking to protect capital against persistent domestic inflation and currency fluctuations.

However, the surging valuations have severely depressed physical retail demand, forcing jewellers across major commercial centers to report declining trade volumes despite record-high nominal pricing.

Market experts anticipate continued volatility in local bullion rates over the coming weeks as international commodity exchanges react to impending macroeconomic data releases from major global economies.

Local traders and financial institutions remain focused on the interbank exchange rate of the Pakistani rupee against the US dollar, which continues to serve as a vital benchmark for determining domestic gold price adjustments.