KARACHI – Pakistan’s gold market went into whirlwind on Monday as prices soared to unprecedented levels amid surge in precious metals.
As per Saraffa Association, price of gold per tola skyrocketed by massive Rs7,400, reaching Rs429,862, sending investors, traders, and buyers into a buzz of excitement and speculation.
The 10-gram gold bar wasn’t left behind, jumping Rs6,337 to hit Rs368,530, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). This comes just two days after a slight dip, when per tola prices fell Rs600 to Rs422,462, highlighting the extreme volatility shaking the market.
Internationally, gold mirrored this meteoric rise, hitting $4,075 per ounce, a staggering $74 jump in just 24 hours. Silver also joined the rally, climbing Rs115 per tola to settle at Rs5,209.
Global gold markets surged over 1% on Monday, driven by investor optimism over a potential Federal Reserve interest rate cut in December.
With gold and silver rising dramatically, Pakistanis are witnessing one of the most extraordinary market movements in recent times.
