Gold Prices in Pakistan Reach Record Highs

Gold prices in Pakistan have reached record highs in recent weeks, driven by a number of factors including political instability, economic uncertainty, and rising global gold prices.

The price of 24-karat gold in Pakistan has now surpassed Rs. 100,000 per tola, or 11.66 grams. This is the highest price gold has ever reached in Pakistan, and it has caused concern among consumers and investors alike.

There are a number of factors that have contributed to the rise in gold prices in Pakistan. One factor is the political instability in the country. The recent elections have resulted in a hung parliament, and there is uncertainty about who will form the next government. This uncertainty has caused investors to seek safe havens for their money, and gold is one of the most popular safe haven assets.

Another factor that has contributed to the rise in gold prices in Pakistan is the economic uncertainty in the country. The Pakistani economy has been struggling for a number of years, and there are concerns that it could enter a recession. This has caused investors to seek assets that are likely to retain their value, and gold is one of those assets.

Finally, the rise in gold prices in Pakistan has also been driven by rising global gold prices. The price of gold has been rising steadily for a number of years, and this has pushed up the price of gold in Pakistan as well. The rising global gold prices are due to a number of factors, including the US-China trade war, the uncertainty surrounding Brexit, and the global economic slowdown.

The rise in gold prices in Pakistan is a cause for concern for consumers and investors alike. Gold is a safe haven asset, but it is also a luxury item. The rising prices of gold could make it difficult for consumers to purchase gold, and it could also make it difficult for investors to profit from gold.