The price of gold per ounce in the international bullion market has suddenly increased by $211 to a new high of $5,293, while in the local market, gold per Tola reached Rs 551662, while the price of 10 grams was recorded 472961.
In addition to the tense situation between the European Union countries and the United States, the arrival of a US aircraft carrier in the Middle East, Iran’s military exercises in the Strait of Hormuz and the cloud of war in the region have created an uncertain environment in global and local markets, causing global and local prices of gold and silver to reach new historical highs.
As the price of gold per ounce in the international bullion market suddenly increased by $211 to a new high of $5,293, in the local gold markets, for the first time in the country’s history, the price of 24-carat gold per tola suddenly increased by a record of Rs21,100 to a new high of Rs551,662 during one-day trading on Wednesday.
In addition, the price of gold per ten grams also increased by a record of Rs18,090 to a new historic level of Rs472,961. Similarly, with the price of silver per ounce in the global market increasing by $2.36 to a record high of $114.27, the price of silver per tola in the local bullion markets has also increased by Rs271 to a new high of Rs11,911, and the price of silver per ten grams has also increased by Rs232 to a high of Rs10,211.
Globally, the US dollar has fallen to a 4-year low due to the de-dollarization policy, and the geopolitical situation is increasing the demand for gold to increase assets. Meanwhile, the central banks of most countries of the world are also seeing a trend of increasing pure gold purchasing activities, due to which the prices of gold and silver are touching new historical highs daily.
