Gold Inches Closer to Rs. 5.5 Lac. Gold prices in Pakistan continued their upward trend on Monday, moving closer to the Rs. 5.5 lakh per tola milestone. The increase in local bullion rates follows strong momentum in international markets, where gold prices have surged to record levels, pushing domestic rates higher.
The rising gold prices have sparked concern among investors and buyers, as the precious metal becomes increasingly expensive for the average consumer.
Gold Prices Rise in Local Market
In the local bullion market, the price of gold per tola climbed to Rs. 536,562, registering an increase of Rs. 3,000 during the day. This steady rise reflects the ongoing bullish trend driven by global economic uncertainty and increasing demand for safe-haven assets.
Similarly, the price of 10 grams of gold increased to Rs. 460,015, showing a jump of Rs. 2,572. The latest rates were shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), which regularly updates gold prices across the country.
Recent Trend in Gold Rates
Gold has been witnessing a continuous upward trajectory over the past few days. Just a few days earlier, on Saturday, the price of gold per tola had already surged to Rs. 533,562 after gaining Rs. 7,100 in a single day.
This sharp increase indicates that the market remains highly volatile, with prices fluctuating due to both domestic and international factors. Analysts believe that if the current trend continues, gold may soon cross the Rs. 5.5 lakh per tola mark, setting a new all-time high in Pakistan.
International Market Driving Local Prices
The primary factor behind the increase in gold prices in Pakistan is the strong performance of gold in the global market. On Monday, international gold prices rose by $30 to reach $5,138 per ounce, with an additional premium of $20.
Global economic uncertainty, inflation concerns, and geopolitical tensions have significantly boosted the demand for gold worldwide. Investors often turn to gold as a safe-haven asset during unstable economic conditions, which drives prices higher in both international and local markets.
Since Pakistan relies heavily on international bullion trends, any increase in global gold prices directly impacts local markets.
Impact on Investors and Buyers
The rising gold prices have created mixed reactions among investors and consumers. For investors and traders, the upward trend presents an opportunity to gain profits, especially for those who invested earlier at lower rates.
However, for jewelry buyers and the general public, the surge in prices has made gold increasingly unaffordable. Many buyers are now delaying purchases, particularly for weddings and cultural events where gold traditionally plays a significant role.
Jewellers have also reported a slowdown in retail activity, as customers adopt a wait-and-see approach in hopes that prices may stabilize in the coming weeks.
Silver Prices Also Increase
Alongside gold, silver prices have also followed an upward trend in the local market. The price of silver increased by Rs. 146 per tola, reaching Rs. 9,094 per tola.
Although silver remains significantly cheaper than gold, it often mirrors gold’s market movement due to similar global demand patterns. The rise in silver prices further highlights the overall bullish trend in the precious metals market.
Factors Behind the Bullish Trend
Several factors are contributing to the ongoing surge in gold prices. One of the key drivers is the weak performance of global currencies, which makes gold more attractive as a store of value.
Additionally, inflation fears and uncertain economic conditions have encouraged investors to shift toward tangible assets like gold and silver. Central bank policies, interest rate trends, and geopolitical tensions are also playing a crucial role in shaping bullion market dynamics.
Experts believe that if inflation remains high and global instability continues, gold prices could remain elevated for an extended period.
Future Outlook for Gold Prices
Market analysts suggest that gold may continue its upward momentum if international prices remain strong. With global rates already hovering above $5,000 per ounce, local prices in Pakistan could soon set new records.
However, some experts warn that the bullion market is highly sensitive to global developments. Any positive shift in economic conditions or strengthening of major currencies could lead to temporary corrections in gold prices.
Despite possible fluctuations, gold is expected to remain a preferred investment option for those seeking long-term financial security.
Conclusion
Gold prices in Pakistan are steadily moving toward the Rs. 5.5 lakh per tola mark, driven primarily by strong international trends and increasing investor demand. With gold currently priced at Rs. 536,562 per tola and global rates crossing $5,000 per ounce, the market is witnessing one of the strongest rallies in recent years.
