Gold prices surge by Rs 1,500 per tola, reaching Rs 315,000
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The gold market in Pakistan experienced a significant surge on Monday as prices rose by Rs. 1,500 per tola, bringing the new rate to Rs 315,000, against its sale at Rs 300,000 on the previous trading day.
According to the All Pakistan Sarafa Gems and Jewelers Association, the price of 10 grams of gold also increased by Rs. 1,286, reaching Rs. 258,487.
The spike in gold prices in the domestic market is due to the rise in the international market.
The global price of gold climbed by $12 per ounce, reaching $2,869 per ounce.
In addition to gold, silver prices also witnessed an upward trend. The price of one tola of silver increased by Rs. 30, reaching Rs. 3,270.
Market analysts attribute the rise in gold prices to fluctuations in international markets, economic uncertainties, and increasing demand for the precious metal.
With global inflation and geopolitical tensions continuing to impact investor sentiment, gold remains a preferred safe-haven asset, driving its price upward both locally and internationally.