Gold prices set new record in Pakistan

Karachi: Gold prices in Pakistan set a new record on Tuesday, in line with their increase in the international rates. The price of the yellow metal reached Rs406,778 per tola after a single-day rise of Rs3,178.

According to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs348,746 after it registered an increase of Rs2,725.

On Monday, the gold price per tola reached Rs403,600 after a gain of Rs5,900 during the day.

The international rate of gold also surged by $37 to settle at $3,855 per ounce during the day. 

Internationally, gold prices rose to hit a fresh high on Tuesday and were poised for their best month in 14 years, as fears of a potential US government shutdown and growing expectations of further US interest rate cuts boosted demand for the safe-haven metal.