Gold price in Pakistan jumps Rs4500 per tola

The gold price recorded a sharp jump in Pakistan as well as in global market on Monday, reported 24NewsHD TV Channel. 

According to the All Pakistan Sarafa Gems and Jewellers Association, 24-karat one tola gold jumped Rs4500 and settled at Rs415,278. 

Likewise, the price of 10 grams of 24-karat gold rose by Rs4,629, bringing it to Rs356,033, while 10 grams of 22-karat gold climbed to Rs326,375, up by Rs4,243.

Market experts attribute the increase to a surge in international gold rates. In the global market, the price of gold rose by $54, reaching $3,940 per ounce. 

Experts opine that amid fluctuating global financial conditions and concerns over inflation, investors turn toward safe-haven assets like gold. Silver also followed the upward trend. The 24-karat silver tola increased by Rs53, now priced at Rs4,949, while 10 grams of silver climbed to Rs4,242, reflecting a Rs45 jump.