Gold prices rise again in local and international markets
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Gold prices rose again on Tuesday in both international and domestic markets, driven by sustained investor demand and ongoing global economic uncertainty.
According to market data, the international bullion market saw an $8 per ounce increase in gold prices, bringing the rate to $3,385.
This upward movement in global prices was mirrored in Pakistan's local bullion markets. The price of 24-karat gold per tola (11.66 grams) increased by Rs800, reaching Rs356,900, while the price of 10 grams of 24-karat gold rose by Rs684 to Rs305,984.
In contrast, silver prices remained stable, with the rate for silver per tola unchanged at Rs3,482 and 10 grams of silver holding steady at Rs2,985.
Market analysts continue to point to geopolitical tensions and inflationary pressures as key drivers behind the rising gold demand. Investors are increasingly turning to gold as a safe-haven asset amid uncertainty.
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Express Tribune
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Express Tribune
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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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15 hours ago
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Gold price per tola surges Rs5,900 in Pakistan
Gold prices in Pakistan increased on Monday in line with their incline in the international market. In the local market, gold price per tola reached Rs353,100 after a surge of Rs5,900 during the day. Similarly, 10-gram gold was sold at Rs302,726 after it gained Rs5,058, according to the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Saturday, gold price per tola reached Rs347,200 after it lost Rs1,400 during the day. The international rate of gold also gained on Monday. The rate was at $3,347 per ounce (with a premium of $20), an increase of $59, as per APGJSA. Meanwhile, silver price per tola remained the same at Rs3,456.
