Gold prices in Pakistan have witnessed an unprecedented surge, rising by Rs118,000 per tola within a span of just 29 days. The sharp increase has sent shockwaves through local bullion markets, marking one of the fastest price escalations in the country’s history.
According to market data, the price of gold per tola has climbed from Rs454,000 to over Rs572,000 in less than a month. Analysts note that such a jump is usually spread over an entire year, making the current trend highly unusual and historically significant.
Jewellers and market experts have described the movement as extraordinary, pointing out that gold has rarely shown this level of volatility in such a short period. The rapid increase has affected both investors and consumers, with many buyers delaying purchases due to record-high rates.
The surge is not limited to the local market. Internationally, gold prices have also experienced a dramatic rise. During the same 29-day period, the price of gold per ounce increased by $1,163, reflecting strong global momentum in the precious metals market.
For the first time in history, gold prices in the international market have crossed the $5,500 per ounce mark. This milestone underscores the scale of the rally and highlights growing investor interest in gold as a safe-haven asset amid global economic uncertainty.
Experts attribute the sharp rise primarily to actions taken by major central banks worldwide. Many central banks are reportedly shifting a significant portion of their dollar reserves into gold, aiming to reduce exposure to currency fluctuations and geopolitical risks.
This large-scale shift has increased global demand for gold, putting upward pressure on prices across international and local markets. Analysts believe that continued uncertainty in global financial systems, coupled with inflationary concerns, has further strengthened gold’s appeal.
In Pakistan, the rising international prices, combined with currency factors and import costs, have amplified the impact on local gold rates. The surge has sparked discussions among investors about whether prices will stabilize or continue climbing in the coming weeks.
Market observers say that while short-term corrections are possible, strong global demand may keep gold prices elevated. Investors are advised to closely monitor international trends and central bank policies, as these factors are likely to play a decisive role in shaping future price movements.
The latest rally has once again reinforced gold’s status as a key store of value during uncertain economic times. As both local and international markets react to shifting financial strategies, gold remains at the center of investor attention.