Gold prices in Pakistan soared to unprecedented levels on Saturday, following a slight uptick the previous day.
According to data from the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the cost of 24-karat gold per tola surged by Rs2,500, bringing the new price to an all-time high of Rs260,200.
The price of 10 grams of 24-karat gold also surged significantly, jumping by Rs2,144 to reach Rs223,080. On the global stage, gold prices followed a similar upward trend, with the rate per ounce climbing by $46 to $2,507.
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Meanwhile, silver prices in the local market also experienced an increase, with the cost per tola rising by Rs50 to Rs2,950.
Brief: On July 18, the price of gold previously reached a record high following a substantial increase after the two-day Ashura break. Dealers pointed out that this rise was driven by expectations that the US Federal Reserve might reduce interest rates.
Furthermore, speculation about Donald Trump’s potential success in the upcoming US elections also played a role in this historic price surge.
