KARACHI: The price of 24-karat gold in Pakistan surged to a record Rs 431,800 per tola on Monday, reflecting growing investor demand for safe-haven assets amid financial market turbulence and a weakening rupee. According to market data, the price of 10 grams of 24-karat gold reached Rs 370,210, while 1 gram was being sold at Rs 37,021.
Bullion traders said the sharp rise was driven by global gold rallies, currency pressure, and heightened local demand. “People are moving their money from stocks and cash into gold due to uncertainty,” a leading jeweller in Karachi said.
The Pakistan Stock Exchange also witnessed selling pressure, with investors shifting focus from equities to safer assets. Analysts say the current trend could continue if inflationary pressures and currency depreciation persist.
For investors holding gold at home, the rally has brought significant capital gains. Experts advise those with large reserves to consider partial profit-taking while retaining some gold as a hedge against further economic instability. For new investors, caution is urged due to the possibility of price corrections after the steep rise.
Market observers say gold’s role as a store of value is once again proving critical during uncertain times, offering both opportunities and risks for those looking to safeguard their wealth.
