Karachi( The COW News Digital) The price of gold in Pakistan has once again increased, adding pressure to already strained household budgets amid rising inflation. According to the All Pakistan Gems and Jewellers Association (APGJA), the price of 24-karat gold per tola rose by Rs. 1,000, reaching Rs. 361,700 on Wednesday.
Similarly, the price of 10 grams of gold registered an increase of Rs. 857, climbing to Rs. 310,099. The upward adjustment follows a parallel rise in the international bullion market, where the price of gold increased by $10, reaching $3,390 per ounce.
Jewellers and analysts attribute the price surge to fluctuations in the global precious metals market, combined with a weak Pakistani rupee and persistent inflationary pressures. With the U.S. dollar maintaining strength in global trade, gold has become a more attractive safe-haven asset for investors, driving up demand internationally.
In Pakistan, the gold market has remained volatile over the past several months. Political uncertainty, rupee devaluation, and rising interest in physical gold among local buyers have contributed to rapid swings in daily prices. Market insiders suggest that wedding season and cultural demand for gold ornaments have further pushed up prices in recent weeks.
The APGJA emphasized that local gold rates are directly linked with international market trends as well as the exchange rate of the rupee against the dollar. Any instability in currency markets tends to translate quickly into higher gold prices domestically.
For many Pakistani households, gold remains not only a traditional symbol of wealth and security but also a practical hedge against inflation. However, jewellers report that the record-high prices are discouraging middle-class buyers, with many shifting to lighter ornaments or postponing purchases altogether.
Meanwhile, financial analysts warn that if the global market continues its upward trajectory, Pakistan may see further hikes in gold prices in the coming days. International investors remain cautious due to geopolitical tensions, inflation fears, and uncertainties in global monetary policies—all of which keep demand for gold elevated.
With the local economy under pressure and inflation at multi-year highs, the continued rise in gold prices is expected to affect both consumer behavior and the jewellery trade in Pakistan.
