Gold Prices Surge Again After Temporary Decline
Gold prices have bounced back following a brief dip, both globally and in local markets, reaching new highs in the precious metals sector.
On the international stage, gold prices climbed by $6 per ounce, pushing the value to $2,936.
Similarly, the local bullion market witnessed a sharp increase. The price of 24-carat gold per tola rose by Rs1,000, bringing it to Rs308,000. Meanwhile, the rate for 10 grams of gold increased by Rs857, reaching Rs264,060.
This upward movement in gold prices is influenced by global economic factors such as inflation concerns and currency fluctuations. Investors are increasingly seeking gold as a secure investment option amid market instability.
Yesterday, after an initial rise, gold prices saw a sharp decline. The international market recorded a drop of $23 per ounce, bringing the price down to $2,930.
This decline also impacted local gold rates, with the price of 24-carat gold per tola decreasing by Rs2,000 to settle at Rs307,000. Likewise, the price of 10 grams of gold in Pakistan fell by Rs1,714, reaching Rs263,203.
