Gold prices in Pakistan climbed on Tuesday, reaching their highest levels ever in both international and local markets.
In the local market, the price of gold per tola reached Rs. 470,862 after an increase of Rs. 8,500 during the day.
Similarly, 10-gram gold was sold at Rs. 403,688, up by Rs. 72,288, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Monday, the price of gold per tola stood at Rs. 462,362 after a gain of Rs. 6,200.
Internationally, gold prices rose by $85 to reach $4,485 per ounce, including a premium of $20.
Meanwhile, the price of silver remained unchanged at Rs. 7,205.
Gold surged to a fresh record on in the international market, coming close to breaching the $4,500-per-ounce mark as escalating US-Venezuela tensions and expectations of lower US interest rates drove investors toward safe-haven assets.
Spot gold rose 0.9% to $4,486.41 per ounce as of 3:29 a.m. GMT, after hitting an all-time high of $4,497.55 earlier in the session. US gold futures for February delivery climbed 1.1% to $4,519.70.
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