The upward trend was also seen in smaller units. The price of 10 grams of gold rose by Rs18,090, climbing to Rs472,961, another historic high that reflects the growing pressure on the precious metal market.
On the global front, gold prices showed a sharp rise as well. In international markets, gold gained $211 per ounce, pushing the price to $5,293 per ounce. This surge highlights strong global demand amid uncertain economic conditions.
Market experts say the price hike is driven by economic uncertainty, rising geopolitical tensions, and investors’ growing preference for safe assets. In times of risk and instability, gold often becomes a safe harbor for investors, protecting wealth against inflation and market swings.
Traders in the Sarafa market report that the steep rise in prices has slowed down buying and selling activity, as gold moves further out of reach for the average buyer. Jewelry purchases, in particular, have seen a noticeable decline.
However, despite reduced consumer demand, investor interest remains strong, as many continue to view gold as a reliable store of value in unpredictable times.
With no clear signs of stability in the global economy, analysts believe gold prices may remain volatile yet firm, keeping both buyers and investors on edge.
