Karachi: Gold prices witnessed a sharp surge in the local market, with the price of one tola rising by Rs10,900, while international gold prices crossed a historic milestone by surpassing $5,000 per ounce for the first time.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold in Pakistan increased by Rs10,900 per tola, taking it to a record high of Rs532,062.
The price of 10 grams of gold also hit a new peak, rising by Rs9,345 to cross Rs450,000 for the first time in the country’s history.
Silver prices followed a similar upward trend. The price of one tola of silver increased by Rs627, reaching an all-time high of Rs11,428 in the local market.
Meanwhile, in the international bullion market, gold prices jumped by $109 per ounce, climbing to a historic high of $5,097 per ounce.
Market analysts attribute the sharp rise in gold prices to global economic uncertainty, increased demand for safe-haven assets, and fluctuations in international financial markets.
