Gold price reaches all-time high of Rs241,000 per tola in Pakistan
Silver prices in Pakistan have also increased, with the rate per tola rising by Rs40 to reach Rs2,650
The price of gold per tola escalated to Rs241,100 on Thursday, marking a notable increase of Rs2,200 from the previous day.
This uptick aligns with a global surge in gold prices, with the local market witnessing substantial gains in line with international trends.
The All Pakistan Gems and Jewellers Sarafa Association (APGJSA) reported that the 10-gram gold price also rose to Rs206,704, reflecting an increase of Rs1,886.
The latest figures follow a previous rise in gold prices on Wednesday, where the per tola cost increased by Rs1,800.
This continuous ascent has brought the local gold prices tantalizingly close to the all-time high of Rs242,700 recorded in September 2023, as per APGJSA records.
Internationally, gold prices achieved a new milestone, with the rate per ounce reaching $2,311 after a significant gain of $21.
This record-setting performance is attributed to recent remarks by Federal Reserve Chair Jerome Powell.
Despite recent job gains and unexpected inflation readings, Powell indicated that these factors have not markedly shifted the Federal Reserve's monetary strategy, influencing gold's upward trajectory.
In addition to gold, silver prices in Pakistan also experienced a rise, with per tola rates increasing by Rs40 to settle at Rs2,650.
The concurrent increases in both gold and silver prices underscore the ongoing volatility in the precious metals market, both domestically and internationally.
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