Web Desk: Gold prices have shattered all previous records in the global market, reaching an all-time high amid strong international demand and economic uncertainty.
According to international media reports, the price of gold climbed to $4,700 per ounce, marking the highest level in history. Just a day earlier, gold was trading at $4,689 per ounce, before extending its upward momentum.
Data shows that gold prices have surged by nearly 70% over the past year in the international market, reflecting growing investor interest in the precious metal as a safe haven.
The global rally has also impacted local markets. On Tuesday, gold prices in Pakistan’s bullion markets increased by Rs7,500 per tola, pushing the price to a record Rs489,362 per tola.
Market analysts say continued volatility in global financial markets and inflation concerns are driving investors towards gold, with prices expected to remain under pressure in the coming days.