KARACHI – Gold and silver prices continued to rise at an unprecedented rate in both global and local markets, with prices reaching new all-time highs.
The price of gold per ounce has surged by $212, reaching a new peak of $5,504 in international market.
This sharp increase has had a direct impact on local markets, where the price of one tola of gold has risen by Rs21,200, reaching a historic high of Rs572,862.
Similarly, the price of 10 grams of gold has increased by Rs18,175, bringing the new price to Rs491,136.
In addition to gold, silver prices have also been climbing steadily, setting new records. The price of one tola of silver has risen by Rs264, reaching Rs12,175, while the price of 10 grams of silver has increased by Rs227, now standing at Rs10,438.
Experts suggest that the rise in gold and silver prices can be attributed to global economic uncertainties, inflation concerns, and a growing trend among investors seeking safe-haven assets.
Meanwhile, the Pakistan Stock Exchange (PSX) has recorded a massive dip due to geopolitical tensions.
The KSE-100 has dropped by 5,773.47 points to reach 182,606.91 points, marking a positive change of -3.06% compared to previous close of 188,380.38 points.
