GOLD PER TOLA RATE IN PAKISTAN: Gold prices in Pakistan rose on Tuesday, following a four-day decline, in line with an increase in international gold rates. In the local market, the price of gold per tola jumped by Rs600, reaching Rs275,500, while 10-gram gold saw a Rs515 gain, selling for Rs236,197, according to data from the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
The rise comes after gold prices fell by Rs600 on Monday, settling at Rs274,900 per tola.
On the international front, the price of gold climbed on Wednesday, with the rate reaching $2,653 per ounce (including a premium of $20), up $6 from the previous day.
Meanwhile, silver prices remained unchanged at Rs3,050 per tola.
RECORD HIGHS AND GLOBAL FACTORS
Last week, gold in Pakistan hit a record high of Rs277,000 per tola. The recent upward trend has been attributed to global factors, including escalating geopolitical tensions in the Middle East, expectations of interest rate cuts by the US Federal Reserve, and increasing demand from major markets like China and India.
Gold is traditionally seen as a safe-haven asset during times of political and economic uncertainty.
GLOBAL MARKET TRENDS
Globally, gold prices remained stable on Wednesday, with spot gold trading at $2,659.79 per ounce as of 0325 GMT, after rising more than 1% in the previous session. US gold futures, however, dipped 0.4% to $2,680.90 as a stronger dollar limited further gains despite continued safe-haven demand amid Middle Eastern tensions. Investors are also closely watching US economic data for future market signals.
