Gold prices reached an unprecedented peak in Pakistan – Current rates as of April 16
The current tariff conflict between the United States and China has caused a significant increase in world gold prices, elevating rates in Pakistan to unprecedented heights, as reported by the All Pakistan Sarafa Gems and Jewellers Association on Wednesday.
The price of 24-karat gold per tola increased significantly by Rs8,600, attaining a record Rs348,000 on the local market. The price for 10 grams of 24-karat gold increased by Rs7,373, reaching Rs298,353.
Association President Muhammad Qasim Shikarpuri affirmed that this increase is directly associated with escalating international pricing, as gold has risen by $86 per ounce globally, now priced at $3,310.
The cost of 10 grams of 22-karat gold has significantly risen, currently valued at Rs273,500.
Concurrently, silver prices experienced a slight increase. The price of silver per tola jumped by Rs54 to Rs2,966, while the price for 10 kilos of silver increased to Rs2,546. Internationally, silver was priced at $32.98 per ounce, indicating a $0.63 increase.
Analysts ascribe the unprecedented increase to escalating global uncertainty, prompting investors to seek gold as a safe haven asset.
