KARACHI – Gold prices in Pakistan continued to surge on Wednesday, with the rate of 24-karat gold in Karachi reaching a new record of Rs 433,000 per tola for selling and Rs 432,500 for buying, according to data shared by Pakistan Gold & Silver Rates.
Market analysts say the sharp rise follows the global rally in gold, where international prices have crossed US $4,000 per ounce amid increasing economic uncertainty and a weaker US dollar. The depreciation of the Pakistani rupee has further added to the price hike in local markets.
Traders report that while investor demand remains strong, jewellery buying has slowed significantly as prices have become unaffordable for many households. Gold dealers in major cities including Lahore, Islamabad, and Peshawar are reporting similar trends, with minor differences in local rates.
Experts predict that gold prices may remain volatile in the coming days, depending on international market movements and the rupee-dollar exchange rate.
