Gold prices rise locally, internationally amid escalating Russia-Ukraine conflict
Gold prices saw a significant rise on Monday, both locally and internationally, driven by growing tensions between Russia and Ukraine.
According to reports, the demand for gold surged again as the conflict between Russia and Ukraine escalated, resulting in a $59 increase in the international bullion market. The price of gold per ounce reached $3,347, marking a notable rise.
Locally, the increase in global gold prices led to a sharp jump in the cost of gold in Pakistan's jewellery markets on Monday.
Following the surge, the price of 24-carat gold per tola increased by Rs5,900, reaching Rs353,100. Similarly, the price of gold per 10 grams rose by Rs5,058, bringing it to Rs302,726.
In contrast, the price of silver remained unchanged, with the cost of one tola silver holding steady at Rs3,356 and 10 grams of silver priced at Rs2,962.
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