Gold continues to prove its value as a safe-haven asset during times of economic uncertainty, with prices in Pakistan reaching an all-time high on Wednesday.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold jumped by Rs8,600 per tola, reaching a record Rs348,000. Likewise, the price for 10 grams of gold increased by Rs7,373, now standing at Rs298,353.
The surge in local prices mirrors the trend in international markets, where gold climbed $46 to trade at $3,310 per ounce.
This follows Tuesday’s upward movement, when gold prices rose both globally and domestically. Internationally, the price of gold went up by $6 to $3,224 per ounce. In Pakistan, the price for 10 grams of gold rose by Rs514, bringing it to Rs290,980.
