Gold prices hit record highs in global and local markets

In Pakistan’s local bullion market, the price of gold per tola increased by Rs. 3,700, reaching an all-time high of Rs. 278,000. Meanwhile, the price of 10 grams of gold rose by Rs. 3,172, settling at Rs. 238,340.

In the global market, the price of gold per ounce saw a sharp increase of $37, climbing to $2,668. This surge is attributed to growing investor interest in safe-haven assets amid global economic uncertainties.

Silver prices also followed the upward trend, with the price per tola rising by Rs. 200, now standing at Rs. 3,450 in the local market.

Experts attribute the rise to a combination of factors, including currency depreciation, inflation concerns, and fluctuating global financial markets. Analysts expect gold to maintain its upward momentum in the near term, with local and international demand likely to stay strong.