Gold prices in Pakistan surge again, crossing Rs. 349,000 per tola

Karachi: After a brief period of decline, gold prices in Pakistan have surged once again, with the per tola rate crossing Rs. 349,000.

According to the All Pakistan Gems and Jewelers Association, the price of gold rose by Rs. 2,100 on Monday, bringing the cost of one tola to Rs. 349,200. Similarly, the price of 10 grams of gold increased by Rs. 1,800, reaching Rs. 299,382.

In the international market, gold also saw an upward movement, with prices climbing by $21 per ounce to settle at $3,310.

Gold is traditionally seen as a safe-haven asset, especially during times of inflation, political uncertainty, or economic instability. Investors often turn to gold when confidence in other financial instruments weakens.

It is worth noting that last year, Pakistan revised its gold pricing mechanism, setting domestic rates at $20 per ounce higher than the global market price to reflect local market dynamics.