Gold price hits new peak with Rs4,900 increase
Reached all-time high of Rs 245,100 per tola due to surge in global market
Gold price in Pakistan soared to a new peak at Rs 245,100 per tola on Saturday, marking an increase of Rs4,900 in just one day.
The hike in rates of the yellow metal in Pakistan soared following a surge in the global market.
Data from the All Pakistan Gems and Jewellers Sarafa Association (APGJSA) revealed that 10 grams of gold were sold at Rs210,134, showing a rise of Rs4,200.
This spike comes after a decrease of Rs900 per tola on Friday.
The local market witnessed a historic high, surpassing the previous peak of Rs242,700 per tola recorded in September 2023.
The international market also experienced an increase on Saturday, driven by speculation of a potential cut in US Federal Reserve rates.
Gold prices reached a record high of $2,350 per ounce in the global market, marking a $44 increase from the previous day.
In addition, silver prices rose by Rs40 to Rs2,650 per tola.
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