Price of gold per tola rises by Rs4,100 to settle at Rs388,100 in the local market
(Web Desk): Gold prices in Pakistan continued their upward trajectory, reaching new all-time highs in line with global market gains.
On Tuesday, the price of gold per tola rose by Rs4,100 to settle at Rs388,100 in the local market, according to data shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). Similarly, the price of 10-gram gold increased by Rs3,514, reaching a record Rs332,733.
This surge follows Monday’s substantial increase, when gold prices jumped by Rs6,100 to reach Rs384,000 per tola.
Internationally, gold prices also climbed sharply. As per APGJSA, the global rate for gold stood at $3,654 per ounce (including a $20 premium), reflecting a gain of $41. Spot gold rose 0.5% to $3,651.96 per ounce as of 04:30 GMT, while US gold futures for December delivery advanced 0.4% to $3,690.90.
The rally in gold is being driven by a weaker US dollar and declining bond yields, as markets increasingly anticipate a Federal Reserve interest rate cut later this month. Meanwhile, silver prices in Pakistan rose by Rs20, reaching Rs4,358 per tola.
PIA to resume UK flight operations from Oct 25
- 2 hours ago
Trump’s new tariffs will slam America’s already brutal housing crisis
- 9 hours ago
14 terrorists neutralised in Khuzdar security operation: ISPR
- an hour ago
The age of endless AI slop is here
- 9 hours ago
Trump’s $100,000 fee for H-1B worker visas challenged in lawsuit
- 2 hours ago
PM Shehbaz Sharif welcomes agreement signed to end unrest in AJK
- 4 hours ago
How Gaza aid flotilla used cameras, data to win global attention
- an hour ago
The Democrats’ shutdown strategy is terrible. Here’s a better one.
- 7 minutes ago
Hamas ready for peace plan, tells Israel to stop bombing Gaza, says Trump
- 4 hours ago
Amazon announces a new Echo Studio
- 2 hours ago
Taifi Butt arrested in murder case of Amir Balaj Tipu in Dubai
- an hour ago
Cyclone ‘Shakti’ in Arabian Sea intensifies: Met Office
- an hour ago
