By The price of gold in Pakistan has reached an all-time high, crossing the three lakh rupee mark per tola. This surge in price has made gold unaffordable for low- and middle-income individuals. According to Abdulah Chand, Vice President of the Karachi Jewelers Association, gold has become a luxury only the wealthy can afford.Experts attribute the rise in gold prices to global economic uncertainty and the increasing demand for gold as a safe-haven investment.
Ahson Elahi, a gold sector expert, notes that the price of gold has consistently increased over the past 20 years, with a significant surge in demand. He predicts that the price of gold will continue to rise, potentially reaching $3,000 per ounce in the near future.In Pakistan, the annual demand for gold is estimated to be around four tons, with a significant portion of it being smuggled into the country through unofficial channels. The government’s strict regulations on gold imports have led to a thriving black market. As the price of gold continues to rise, experts advise against selling gold, instead recommending it as a long-term, safe-haven investment.
