Gold Prices In Pakistan Keep Rising, Near Rs. 420,000 Mark

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Gold Prices In Pakistan Keep Rising, Near Rs. 420,000 Mark

Gold prices in Pakistan continued their upward trend on Tuesday, reaching new all-time highs in the local market. The increase mirrors global gains, with international gold rates also climbing steadily.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola rose to Rs. 416,778, up by Rs. 1,500 during the day. The rate for 10 grams of gold also increased, reaching Rs. 357,319, marking a gain of Rs. 1,286.

On Monday, gold prices had already jumped significantly, with the per tola rate hitting Rs. 415,278 after a single-day increase of Rs. 5,400. Analysts attribute the surge to strong demand and rising global rates.

Globally, gold maintained its momentum. APGJSA reported the international rate at $3,955 per ounce, including a $20 premium, up $15 from the previous day. Spot gold traded around $3,960 per ounce, after reaching a record high of $3,977.19 earlier.

In contrast, silver prices in Pakistan moved downward, dropping by Rs. 20 per tola to Rs. 4,929, showing a temporary divergence from the gold market trend.

Market experts believe that inflation concerns, global economic uncertainty, and increased investor interest in precious metals have contributed to the surge in gold prices. Gold continues to be seen as a safe-haven asset during times of financial volatility, further boosting local demand.

The record-breaking rise in gold prices has drawn attention from investors, jewelers, and consumers. Prices are now approaching the Rs. 420,000 per tola mark, indicating historic highs in Pakistan’s gold market. Analysts expect gold to remain in demand as global and domestic factors continue to influence its price.

In other related news also read US Introduces Gold Card Program Granting Permanent Residency

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