Gold prices in Pakistan hit record high

Gold prices in Pakistan hit record high
/ Jingming Pan - Unsplash
By bno - Mumbai bureau January 31, 2025

Gold prices in Pakistan have reached a new all-time high following a $15 increase in the international bullion market, which pushed the price to $2,778 per ounce, The Tribune reported on January 30.

The All Pakistan Sarafa Jewellers Association reported that the price of gold per tola (approximately 11.9 grams) rose by PKR1,600 ($5.74) to a record PKR290,300, while the price per 10 grams increased by PKR1,372 to PKR248,885, The Tribune reported.

The surge in gold prices is driven by investor concerns over potential US import tariffs under President Donald Trump, the newspaper added. Investors are also awaiting a key inflation report that could influence the Federal Reserve’s monetary policy decisions.

According to Reuters, London bullion market players are rushing to borrow gold from central banks after a surge in deliveries to the US. While Trump has not mentioned gold in his tariff plans, traders remain cautious, prompting increased shipments to New York.

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