KARACHI (Dunya News) – Gold prices in Pakistan soared once again on Thursday, dealing another blow to buyers already struggling with rising inflation.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold rose sharply by Rs2,900 per tola, reaching a record high of Rs362,200.
Meanwhile, the price of 10 grams of 24-karat gold saw an increase of Rs2,487, bringing it to Rs310,528.
On the global front, international gold prices also witnessed an upward trend, gaining $29 per ounce to hit $3,395.
This fresh hike comes just a day after gold prices rose by Rs. 1,300 per tola, pushing the rate to Rs. 359,300 on Tuesday. Similarly, the rate of 10 grams of 24-karat gold increased by Rs1,114, reaching Rs308,041.
The price of 10 grams of 22-karat gold also moved up by Rs1,022, now selling at Rs 282,381.
Jewellers say the prices are going through the roof due to instability in global markets and a weakened Pakistani rupee.
Read also: Gold price hikes by Rs10,000 per tola
Buyers and investors alike are keeping a close eye on the situation, but for now, gold continues to burn a hole in the pockets of the average consumer.
As things stand, the gold market shows no signs of slowing down, and consumers are left wondering just how high the prices will go in the days to come.