Gold prices witness another jump of Rs1,400

Iinvestors turn attention towards yellow metal as inflation rises around the world

ISLAMABAD: The price of 24 karat per tola gold witnessed increase of Rs1,400 and was sold at Rs125,600 against its sale at Rs124,200 in the local market on Thursday.

Gold prices in the local bullion market jumped Rs1,201 per 10 grams to reach Rs107,682.

A day earlier, the precious commodity closed at Rs124,200 per tola and Rs106,481 per 10 grams.

The price of per tola and ten gram silver; however, remained unchanged at Rs1,470 and Rs1,260.28, respectively.

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The price of gold in the international market increased by $8 and was traded at $1,793 against its sale at $17,85.

It is pertinent to mention here that cumulatively, in the past four trading sessions, the price of gold has soared Rs7,600.

Gold dealers suggest that uncertain economic conditions have sparked a flight from risky commodities towards safer commodities such as gold, which is considered one of the safest investments.

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