Gold rates in Pakistan witnessed a substantial increase as the price of 24-Karat gold per tola jumped by Rs10,700 to reach Rs.454,262
Gold and silver are registering significant gains based on interbank exchange rates, according to the All Pakistan Sarafa Gems and Jewellers Associations.
The surge in local prices mirrored a strong performance in the international market
International Gold was priced at $4,319 per ounce, recording a daily gain of $107.
International Silver also climbed, increasing by $2.32 to stand at $64.12 per ounce.
The continuous upward trend in the precious metals market is often attributed to the appeal of gold and silver as safe-haven assets, especially amid global economic uncertainty, a weaker US Dollar, and growing expectations of interest rate cuts by the US Federal Reserve.
