Gold prices have surged in Pakistan and globally.

Gold prices are surging in Pakistan due to low interest rates and anticipation that the Pakistani rupee might be devalued in the near future due to the IMF program's strict conditions as well global conflicts. 

Gold prices have been surging in Pakistan for a long time due to the currency not performing well against the dollar, and it is devaluing frequently. However, PKR performed its best in 2024 compared to past 7 year; still, the gold price has surged due to global conflict and strict IMF condition. 

Gold prices have always been the best bet for their stable value, and it is very rare that gold has lost its value, and even at times other currencies like USD, pounds, and EU currencies have also devalued and its value against gold.

In Pakistan, gold prices have a history of price increase, like from January 1st, 2024, 24-karat gold prices were 220,7000 PKR, and now they are 294,300, which is a massive increase even though PKR is stable against the dollar, and still gold prices are increasing significantly, which shows that gold prices are increasing worldwide, not just in Pakistan.

Experts say that gold prices increased around USD 53 recently, and it is being sold at USD 2868 for a gram of 24-karat gold, which was recently USD 2815, which suggests that the demand for gold is increasing for many reasons.

Gold prices did not only impact the selling market, but they also increased Pakistan's international reserve and asset value as well. Moreover, last year, Pakistan had a gold reserve valued at around US 4 billion, and now its value has increased to US 5.4 billion.

Gold prices are increasing due to global tension and the Middle East conflict. The US president ordered a tariff on Mexico, Canada, and China and then postponed the order of the tariff for Canada and Mexico for a month. Moreover, Middle East tension is also causing a lot of surges in gold prices, and people are shifting from bitcoins and digital currency to gold.

In respond, China also put tariff on USA goods imported to China, which again became another reason for  gold prices surge.