Gold hits Rs 356,800 per tola after Rs 6,600 jump

Karachi (Web Desk): The new fiscal year began with a significant surge in gold and silver prices across local bullion markets in Pakistan, leaving both buyers and investors stunned.

According to the All Pakistan Gems and Jewellers Association, the price of gold per tola increased by Rs. 6,600, reaching an all-time high of Rs. 356,800. Similarly, the price of 10 grams of gold rose by Rs. 5,658, now standing at Rs. 305,858.

Silver prices also witnessed a notable increase. The price of silver per tola jumped by Rs. 52, bringing it to Rs. 3,834, while 10 grams of silver rose by Rs. 45, now priced at Rs. 3,287.

In the international bullion market, the price of gold per ounce surged by $66, pushing the global rate to $3,348 per ounce.

Market analysts attribute the spike to growing global economic uncertainty, fluctuations in the value of the US dollar, and inflationary pressure in the local market. Experts suggest that prices may continue to fluctuate in the coming days, urging buyers and investors to remain cautious.