Gold price in Pakistan jumps Rs 6,200 per tola
The price of 10 grams of gold rises by Rs5,315 to settle at Rs396,400
Gold prices jumped to historic highs on Monday in international and domestic markets, driven by sustained buying momentum, reproted 24NewsHD TV Channel.
In the international bullion market, spot gold rose 1.7% to $4,413.01 per ounce by 0955 GMT, after touching a record high of $4,420.01 earlier in the session. US gold futures for February delivery gained 1.4% to $4,446.70 per ounce.
Following the global rally, gold prices in Pakistan surged to record levels. The price of gold per tola jumped by Rs6,200 to reach a historic high of Rs462,362. Similarly, the price of 10 grams of gold rose by Rs5,315 to settle at Rs396,400, marking its highest level on record.
Spot silver also rallied sharply, climbing 2.8% to $68.98 per ounce after hitting a new all-time high of $69.44 during the session.
Market experts attributed the sharp rise to continued global uncertainty, expectations of monetary easing.