Pakistan witnesses significant increase in gold prices

The glitter of gold is reaching new heights in Pakistan as gold prices experienced a substantial surge, witnessing a remarkable increase of Rs 2,000 per tola, reported 24NewsHD TV channel Saturday.

This upswing has placed the price of gold per tola at Rs 213,300, signifying an upward trend in the precious metal's value.

This substantial increase is not limited to the tola measurement alone; 10 grams of gold also saw a substantial rise, with prices surging by Rs 1,714. This surge has elevated the price to Rs 182,870 per 10 grams. For those interested in 22-carat gold, the rate reached Rs 167,631 for 10 grams.

The upward momentum of gold prices in the local market reflects the global trend, as gold prices climbed by $19 in the international market, reaching a notable $2,006 per ounce.

This global surge in gold prices is attributed to various factors, including uncertainties in financial markets and the ongoing economic impact of the pandemic, causing investors to flock to the precious metal as a safe-haven asset.

As gold retains its status as a store of value and an investment option, the increase in gold prices signifies growing interest and demand for this precious metal, not only in Pakistan but across the world.