Gold and silver costs continued their sharp rise in each worldwide and home markets on Thursday, reaching historic highs for the second consecutive day.
In keeping with native bullion market sources, the worldwide gold value elevated by $212 per ounce to $5,504, setting a brand new report.
The surge was mirrored in home markets, the place the value of gold per tola rose by Rs21,200 to Rs572,862, marking the best degree within the nation’s historical past. The worth of 10 grams of gold elevated by Rs18,175 to Rs491,136.
Silver costs additionally recorded positive factors, with the value per tola rising by Rs264 to Rs12,175, and the value per 10 grams rising by Rs227 to Rs10,438.
Learn: Gold crosses Rs551,500/tola on financial, geopolitical uncertainty
Earlier on Wednesday, gold costs in Pakistan surged to an all-time high, crossing Rs551,500 per tola, following a pointy rally in world bullion markets the place gold topped $5,300 per ounce for the primary time. The surge was pushed by financial uncertainty, a weakening US greenback, and investor issues over the independence of the Federal Reserve forward of its coverage announcement.
Within the native market, gold per tola jumped Rs21,100 to Rs551,662, in keeping with the All-Pakistan Gems and Jewellers Sarafa Affiliation (APGJSA). Likewise, 10-gram gold rose by Rs18,090 to Rs472,961. The rally got here after Tuesday’s session, when gold per tola had declined by Rs1,500 to Rs530,562.
Silver additionally touched a brand new report, with costs per tola rising Rs271 to Rs11,911, marking an all-time excessive within the home market.
Internationally, gold hit a report $5,311.31 per ounce, with spot costs buying and selling 1.7% increased at $5,278.28 per ounce by 1605 GMT, after positive factors of greater than 3% within the earlier session, in keeping with Reuters. Traders flocked to safe-haven belongings amid mounting macroeconomic and geopolitical dangers.
