Record Gold Prices Trigger Fears of Panic Buying in Pakistan

Gold prices in Pakistan skyrocketed on Monday, rattling consumers and sparking concerns of panic buying.

The price of 24-carat gold rose Rs6,100 to Rs384,000 per tola, while 10 grams climbed Rs5,230 to Rs329,219. Silver also scaled new heights, up Rs23 per tola to Rs4,338.

The historic rise follows international market gains, where gold per ounce rose by $61 to $3,613. Global investors are rushing to safe-haven assets amid volatile markets and economic uncertainty, with Pakistan feeling the immediate impact.

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Local jewellers report a slowdown in routine sales as buyers adopt a wait-and-see approach, while some investors are purchasing aggressively, fearing further hikes. Experts warn this imbalance could strain supply and intensify volatility.

The surge adds to Pakistan’s broader economic challenges, with inflation and currency instability already weighing on households.