Gold prices in Pakistan surged to fresh highs on Tuesday, following gains in the international market as expectations of a US interest rate cut lifted demand for the safe-haven asset.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola rose by Rs. 4,700 to a record Rs. 391,000.
Ten grams of gold also hit an all-time high of Rs. 335,219 after gaining Rs. 4,030 during the day.
A day earlier, the per tola price had remained steady at Rs. 386,300.
APGJSA reported that the international price stood at $3,692 per ounce, including a $20 premium, reflecting a $49 daily increase. Silver prices also advanced, climbing Rs. 53 to Rs. 4,496 per tola.
In global markets, spot gold touched a record $3,689.27 per ounce before easing slightly to $3,681.18. US gold futures for December delivery were steady at $3,718.50.
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
Advocates High Court & Tax Counsel
Jurisdiction: Pakistan