The gold price in Pakistan recorded another sharp increase on Tuesday with 24-karat tola jumped Rs1500 and settled at Rs416,778, reported 24NewsHD TV Channel.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 10 grams of 24-karat gold rose by Rs1,286, bringing it to Rs357,319, while 10 grams of 22-karat gold climbed to Rs327,554, up by Rs1,179. Market experts says increase is attached with surge in international gold rates.
In the global market, the price of gold rose by $15, reaching $3,955 per ounce. Experts believe the rise stems from investors uncertainty amid fluctuating global financial conditions and inflation concerns, prompting traders to turn toward safe-haven assets like gold.
Silver, however, followed an opposite trend. The 24-karat silver tola decreased by Rs20, now priced at Rs4,929, while 10 grams of silver fell to Rs4,225, reflecting a Rs17 drop.
On the international front, silver prices reached $48.30 per ounce, recording a modest increase of $0.20.