Inflation Worries Deepen as Gold Hits Peak

Pakistan witnessed another sharp spike in precious metal prices, fueling inflation concerns among households and businesses.

The price of 24-carat gold climbed to a record Rs 388,100 per tola, marking an increase of Rs 4,100 in a single day. Ten grams of gold jumped to Rs 332,733, while 22-carat gold rose to Rs 305,016.

The surge is linked to global trends, with international gold trading higher at $3,654 per ounce. Experts note that Pakistan’s reliance on imported bullion means domestic prices mirror global changes almost instantly.

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Silver also hit new highs, rising to Rs 4,358 per tola. International silver gained modestly to $41.25 per ounce.

Analysts warn that the spike in gold may push overall inflation higher, particularly in jewelry, electronics, and industries reliant on precious metals. For ordinary citizens, the rising cost of gold jewelry could dampen demand during the upcoming wedding season.

Economists emphasize that while investors benefit from rising gold, the broader impact on purchasing power remains worrying.