Gold prices remained close to the record high of Rs484,500 per tola today. Although the price dropped slightly by Rs300, gold is still seen as a safe investment by people looking to protect their savings from inflation and global uncertainty.
The local bullion market saw minor fluctuations today, with the price of 24-karat gold settling at Rs 484,500 per tola. This reflects a very small drop from yesterday’s closing, but prices remain exceptionally high compared to last year. For those buying in smaller quantities, 10 grams of 24K gold were traded at Rs 415,390, while 22K gold (mostly used for jewelry) was priced at Rs 444,122 per tola.
Dealers in Karachi’s Sarafa Bazaar noted that physical jewelry sales have slowed due to these high prices. Most customers are now visiting shops to sell their old gold or to exchange it, rather than making new purchases. However, the demand for raw gold bars remains strong among investors who see it as a more reliable asset than paper currency.
Global Tensions Keep Gold Expensive
Because of tensions in the Middle East, prices of gold are still changing. Since Pakistan imports a large portion of its gold, any change in global rates or the value of the US Dollar immediately impacts the domestic rate.
Economic analysts warn that gold is likely to remain expensive as long as global uncertainty continues. The All Pakistan Sarafa Gems and Jewellers Association (APSGJA) said prices may stay at these high levels until there is a major change in global interest rates.
For now, many Pakistani families continue to see gold as one of the safest ways to protect their money during uncertain economic times.
