Gold prices have reached record highs in both international and local markets following recent increases.
In the global bullion market, the price of gold rose by $11 per ounce, hitting a new peak of $2,737.
Consequently, local jewelry markets reflected this trend, with the price of 24-carat gold per tola climbing by Rs2,000 to a record Rs285,400, up from Rs282,300 on the previous trading day.
Additionally, the price of gold per 10 grams surged by Rs943, reaching an all-time high of Rs244,684.
In contrast, silver prices remained stable, with the per tola rate steady at Rs3,150 and the 10-gram rate at Rs2,700.62.
Market analysts attribute the surge in gold prices to several factors, including rising tensions in the Middle East, uncertainties surrounding the upcoming U.S. elections, and a shift toward more accommodating monetary policies. As a result, investors are increasingly viewing gold as a safe-haven asset amidst global economic uncertainty, driving demand and prices to unprecedented levels.
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