Gold hits record highs in local and global markets
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Gold prices have risen further, reaching new record highs.
In the international bullion market, the price of gold per ounce saw a $10 increase on Saturday, reaching a new global price of $3,084 per ounce.
On the other hand, in local markets, the price of 24-carat gold per tola increased by Rs 1,620, bringing it to a new high of Rs 325,000, the highest in the country's history.
Similarly, the price of gold per 10 grams also surged by Rs 1,389, reaching Rs 278,635, another record high.
In contrast to rising gold prices, the price of silver in the country decreased by Rs 30 per tola, bringing it to Rs 3,580, while the price of silver per 10 grams dropped by Rs 27, reaching Rs 3,069.
Yesterday, in the local markets price of gold per tola rose to Rs323,380, marking a single-day increase of Rs2,380.
In the international gold market, the price reached $3,074 per ounce (including a $20 premium), up $22 for the day.
Interactive Commodities Director Adnan Agar stated that gold hit a historic high of $3,086 on Friday, while the lowest point of the day was $3,054, with the market currently standing at $3,072.
He described the market as strong and volatile, with further fluctuations expected next week due to key global economic events.
Two major factors influencing market sentiment are the upcoming US employment data and the April 2 tariff deadline set by US President Donald Trump.
Agar noted that Trump was expected to follow through on his trade policies, which could provoke retaliatory actions from other countries, leading to further market uncertainty. "While a significant correction in gold prices is anticipated, the exact timing remains uncertain," he said.
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