Sudden rise in gold prices, go sky high

Karachi: The price of gold has recorded a huge increase in the global and local markets.

The price of gold per ounce suddenly increased by $141 in the international bullion market today, Friday, as a result of which the new global price reached a new high of $4,358.

The effects of the global market were also seen at the local level, where the price of 24-carat gold per tola in the bullion markets increased by Rs14,100, settling the new price at Rs456,900.

Similarly, the price of gold per 10 grams at the local level also increased by Rs12,089 to reach a new high of Rs391,718.

Similarly, the price of silver per tola increased by Rs167 to Rs5,504, and the price of 10 grams of silver also increased by Rs143 to a new high of Rs4,718.

Globally, predictions of the price of gold per ounce reaching $5,000 in 2026, increasing demand from central banks in China, Brazil, India, Saudi Arabia, Dubai and other countries, and general buying activities of gold coins in the US, Russia and Germany have given gold the image of a reliable and safe metal, due to which global and local gold prices have reached new heights in history.