Buying gold has become a distant dream for many as prices hit another all-time high, both globally and in Pakistan’s local markets.
On Wednesday, the international bullion market saw a sharp rise in gold prices, with a dramatic $86 increase per ounce, pushing the global rate to a historic high of $3,310 per ounce.
This international surge had an immediate impact on Pakistan’s gold market. In local sarafa (bullion) markets, the price of 24-karat gold soared by Rs. 7,373 per tola, bringing the new rate to an unprecedented Rs. 348,000 per tola—the highest ever recorded in the country.
Similarly, the price of 10 grams of gold also jumped significantly, now standing at Rs. 298,353, marking another record high.
Experts attribute the relentless rise in gold prices to global economic uncertainty, inflation concerns, and increased investment in safe-haven assets. Local traders say the continuous upward trend has pushed gold far beyond the reach of the average consumer, further slowing down gold sales in domestic markets.
With no signs of a reversal yet, both investors and buyers are watching the market closely, as gold continues its historic climb.
