F.P. Report
KARACHI: Gold prices have shot through the roof, touching the highest level in history both in international and local markets.
In the international bullion market, the yellow metal jumped by $60 per ounce, reaching a new peak of $3,540. This global rally quickly spilled over into local jewelry markets.
As a result, the price of 24-karat gold in Pakistan went up by Rs6,000 per tola, setting a fresh all-time high at Rs376,700 per tola. Likewise, the price for 10 grams of gold rose by Rs5,144, hitting Rs322,959.
Traders say the steep climb is mainly driven by global trends, leaving local buyers to bear the brunt. With prices climbing day by day, many investors are rushing to gold as a “safe haven,” while ordinary buyers are left high and dry.
