Gold Rates Reach New Highs Globally
The surge in gold prices is attributed to increased global investment and strong buying interest from the US, with local and international markets reflecting the upward trend, and analysts predicting potential further price hikes in the coming days.
Gold prices have surged to new record highs, both locally and internationally, driven by increased global investment and strong buying interest from the US, with the 24-carat gold rate per tola reaching 314,800 rupees in local markets.
The price increase has been significant, with the 24-carat gold rate per tola rising by 1,100 rupees and the price for 10 grams of gold increasing by 943 rupees to 269,890 rupees. This trend is mirrored internationally, where the price of gold per ounce has climbed by $13 to $2,997. In contrast, silver prices have remained steady, with the price per tola unchanged at Rs3,530.
The exchange rate has remained stable at 280 PKR per USD, which has not impacted the upward trajectory of gold prices in Pakistan. Analysts predict that if the current trend continues, further price hikes can be expected in the coming days. The rise in gold prices has been observed across different types of gold, with 22K gold per 10 grams being recorded at Rs 247,408.
As the global economy continues to evolve, it will be interesting to see how gold prices fluctuate in response to changing market conditions. For now, investors and buyers are taking note of the record-high gold rates and adjusting their strategies accordingly.