During the last fiscal year, the per tola price of 24-karat gold in the country increased by Rs. 108,500. By the end of the 2024–25 fiscal year, the per tola price had reached Rs. 350,200.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) report, during the last fiscal year, the rise in international market prices, the depreciation of the rupee against the dollar, inflation, and increased demand for gold by investors all contributed to a rising trend in local gold prices.
It is worth noting that on June 29, 2024, the per tola price of 24-karat gold was Rs. 241,700, which rose to Rs. 350,200 by the end of the fiscal year. Thus, compared to the 2023–24 fiscal year, there was an increase of Rs. 108,500 in the per tola price of 24-karat gold during the 2024–25 fiscal year. Similarly, the price of 10 grams of gold at the beginning of the last fiscal year was Rs. 207,219, which increased by Rs. 93,000 during the year, reaching Rs. 300,240.
At the beginning of the last fiscal year, the price of 10 grams of gold in the international market was $2,326, which increased to $3,280 by the end of the fiscal year. According to the report, due to a significant increase in demand for gold in the international market during the last fiscal year, the price of 10 grams of gold recorded a notable increase of $950.
Due to the depreciation of the rupee against the dollar, the rate of inflation, and increased investment in gold, there was a trend of rising gold prices locally. APSGJA officials stated that due to continued investor interest in gold, the price of gold in the local market may continue to rise during the current fiscal year as well. However, gold prices in Pakistan will remain linked to fluctuations in the international market.
