Gold prices surge again in local and international markets– February 20, 2025
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Gold prices have reached historic highs for the third consecutive day in both international and local markets. In the international bullion market, the price of gold per ounce surged by $9, reaching $2,953.
On the other hand, the price of gold per tola increased by Rs1,000, reaching Rs309,000 in local market.
Similarly, the price per 10 grams rose by Rs857, now standing at Rs264,917.
These record-breaking prices have attracted significant attention from investors and traders, reflecting the global trend of rising gold prices.
It is worth noting that yesterday, gold prices in Pakistan surged to record highs on Wednesday, following a global uptrend.
The price of gold per tola increased by Rs3,800, reaching Rs308,000, while 10-gram gold rose by Rs3,258 to Rs264,060. This followed a previous Rs1,000 per tola rise on Tuesday.
Internationally, gold climbed by $34, hitting $2,944 per ounce, supported by geopolitical tensions and increased demand for safe-haven assets.
Experts noted the market's strong upward momentum, despite the lack of a correction, which usually follows major price gains.
Gold prices could reach $3,000-$3,100 in the near future, but traders remain cautious due to potential volatility.
Meanwhile, the Pakistani rupee weakened slightly by 0.04% against the US dollar, closing at 279.47. The State Bank of Pakistan raised Rs258.8 billion in its T-Bill auction, falling short of its Rs350 billion target.
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