Gold prices soar to record-breaking Rs369,000 per tola
In 1947, gold was priced at Rs57 per tola.
Throughout the 1950s and 1960s, gradual increases were observed, crossing Rs100 by the late 1950s and reaching Rs176 by 1969. Despite periodic fluctuations, the overall trend remained upward.
The 1970s marked a transformative era. Economic upheavals and political instability propelled gold prices sharply upward, reaching Rs432 per tola in 1973 and soaring to Rs2,250 per tola by 1980. Although the 1980s witnessed occasional dips, global inflation and market instability kept prices generally on the rise.
During the 1990s, gold prices hovered between Rs3,000 and Rs6,000 per tola. The trend shifted dramatically after the 2008 global financial crisis, with gold emerging as a safe-haven asset, climbing to Rs23,500 per tola by the end of that year.
From 2010 onwards, gold experienced a steep surge. In 2011, prices crossed Rs50,000 per tola for the first time. During the Covid-19 pandemic in 2020, gold breached Rs100,000 per tola, reflecting global uncertainty and local economic pressures.
Copyright Business Recorder, 2025
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