According to the Pakistan Sarafa (Jewellers) Association, if the current global trend continues, further increases in the coming days cannot be ruled out. The warning comes as gold rates climb to unprecedented levels, leaving many potential buyers stunned.

In local bullion markets across the country, the price of one tola of gold has jumped by Rs3,000, pushing it to an all time high of Rs536,562. This sudden spike is not limited to per tola rates alone. The price of 10 grams of gold has also surged by Rs2,572, now standing at Rs460,015.

The driving force behind this rally lies beyond national borders. In the international market, gold gained $30 per ounce, bringing the price to $5,138 per ounce. Analysts say that movements in global bullion rates have a direct and immediate impact on Pakistan’s domestic market.

Economic experts point out that growing investor appetite for safe haven assets, along with fluctuations in the US dollar, has fueled fresh demand for gold worldwide. When uncertainty clouds the global economy, investors often flock to gold as a shield against risk and this rising demand pushes prices even higher.

Back home, the surge has cast a shadow over the wedding season. Families planning marriages are feeling the pinch as jewelry purchases become heavier on the pocket. Traders report thinner crowds in gold markets, as many buyers adopt a wait-and-see approach in hopes that prices may stabilize.

Market observers caution that if international prices continue their upward march, local consumers should brace for more hikes. For now, gold appears to be on a relentless climb, glittering brightly, but far from affordable for the average citizen.