Gold prices surged sharply in international markets on Tuesday, rising by $28 per ounce to reach a new high of $4,560 per ounce, reflecting continued investor demand for safe-haven assets.
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Following the global trend, local bullion markets in Pakistan also witnessed a significant increase. The price of 24-carat gold per tola jumped by Rs2,800 to settle at Rs478,762.
Similarly, the rate for 10 grams of gold increased by Rs2,401, reaching Rs410,461 in the domestic market.
Silver prices also recorded gains in both global and local markets. In the international market, silver rose to $73 per ounce. Locally, silver per tola climbed by Rs260 to Rs7,784, while the price of 10 grams increased by Rs223 to Rs6,673.
A day earlier, both gold and silver had already seen notable increases. Gold had risen by $39 per ounce globally to $4,532, while in Pakistan, the per tola rate had climbed by Rs3,900 to Rs475,962.
Market analysts attribute the continued upward trend to global economic uncertainty and geopolitical tensions, which have pushed investors toward precious metals as a hedge against volatility.
The sustained rally indicates strong momentum in bullion markets, with prices reaching historic highs both internationally and domestically.
