ISLAMABAD: Gold prices hit another record high on Saturday, the last day of the trading week, after gold prices surged.
According to data shared by the All Pakistan Gems and Jewelers Association, the price of 24-carat gold rose by Rs1,800 to Rs340,600 per tola.
Similarly, the price of 10 grams rose by Rs1,543 to Rs292,009.
Bullion rates also hit a record high as the price per ounce in the international market rose by $18 to $3,236.
A day earlier, the price of gold in Pakistan surprisingly increased by Rs10,000 per tola, taking the new price to Rs338,800 per tola.
Similarly, the price of 10 grams of gold increased by Rs8,573 to Rs290,466.
Analysts attribute the rise to a combination of factors such as global inflation concerns, expectations of interest rate cuts, and geopolitical tensions, which have attracted investors to gold as a safe haven. The depreciation of the rupee in Pakistan and rising import costs have fueled further price increases.
The sharp increase has raised concerns among consumers, especially those preparing for weddings and major purchases, while jewelers have warned that prices could rise further in the coming days if current trends continue.
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