The price of gold in the global and local markets increased for the fifth consecutive day.
According to the All Pakistan Sarafa Association, the price of gold per tola in the local market increased by Rs 800, after which the new price became Rs 4 lakh 57 thousand 336.
Similarly, the price of 10 grams of gold increased by Rs 685 and reached Rs 3 lakh 92 thousand 91. Gold became more expensive in the global market; the price reached the highest level in 7 weeks.
In addition, the price of silver per tola increased by Rs 77 to Rs 6903. On the other hand, the price of gold per ounce in the global market has become $ 4 thousand 349 after becoming $ 8 more expensive. It should be noted that the price of gold per tola has increased by Rs 29 thousand 400 in 5 days.
Factors such as global economic uncertainty, ongoing tensions in various regions, monetary policies of central banks, and changes in the value of the US dollar directly affect gold prices. This is why even a minor change in the international market affects prices in the local bullion market.
On the other hand, citizens buying jewelry are concerned due to the continuous increase in prices. Traders associated with the bullion market say that due to high prices, the purchase and sale of gold has decreased significantly, and most buyers are buying only when necessary.
Read also: Gold Prices Soar to Record High as Per Tola Rate Crosses Rs449,000
