Gold prices in Pakistan witnessed a sharp increase on Monday, according to the Pakistan Sarafa Market. The price of 24-karat gold surged to Rs. 448300 per tola, while the per-gram rate climbed to Rs. 38,434. Rates for lower-purity gold also rose, with 22K gold reaching Rs. 35,229 per gram and 21K gold moving up to Rs. 33,630 per gram.
In Islamabad, gold recorded a 0.13% rise yesterday, reflecting a continued short-term upward trend. However, long-term price movements remain highly volatile. Over the past month, gold prices have increased by Rs. 25,440, marking a 6.02% jump, while the year-long increase stands at a substantial Rs. 164,700, or 58.07%.
Market observers attribute the surge to global economic uncertainty, as investors often turn to gold to protect themselves against inflation and currency depreciation. Despite fluctuations, the gold market in Islamabad remains active, with buyers frequently using conversion tools to track real-time rates.
