Gold continues to fly high in the country, costlier by Rs 6,900 per towel

Gold continues to soar across the country, rising by Rs 6,900 per tola to its highest level in history. According to the All Pakistan Gems and Jewellers Association, the price of gold per towel in the country rose by Rs 6,900 to Rs 4,35,100. Similarly, the price of 10 grams of gold increased by Rs 5,916 to Rs 3,73,28. On the other hand, the price of gold per ounce in the international market suddenly increased by $69 to a new high of $4,140. Read also: Gold more expensive in the country, the new price reached the highest level in history
The reasons for this surge in gold prices include weakness of the US dollar, purchases by central banks globally, political uncertainty, and partial government shutdown in the US. Experts also see the freezing of Moscow's assets after the Russian attacks on Ukraine as one of the reasons for the rise in gold prices in the global market. According to Goldman Sachs, the financial services agency of the United States, one of the reasons for the increase in gold prices in addition to tariffs is the purchase of more gold by central banks, especially China and emerging economies. The United States ranks first in the world in terms of gold reserves, while China holds this honor in Asia, India ranks eighth globally and second in Asia, Pakistan is 49th in the world list. According to the report, the United States, Germany and Italy are the top gold reserves, China and India have the highest gold reserves in Asia. Also read : Gold prices in the country hit Rs 4 lakh per towala
According to the World Gold Council, central banks in different countries purchased more than 1,000 metric tons of gold in 2024, nearly double the average annual purchases of the previous decade.