KARACHI: Gold prices in Pakistan continued their upward trajectory for the second consecutive session on Tuesday, November 19, 2024, following a global upward trend.
In the local bullion market, the price of gold surged by Rs3,600, reaching a new high of Rs273,500 per ton.
Similarly, the price of 10-gram gold increased by Rs3,086, selling at Rs234,482, according to the rates provided by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
This increase comes on the heels of Monday’s rise, when the gold price had risen by Rs2,500, settling at Rs269,900 per tola. It is worth noting that gold hit an all-time high in Pakistan last month, surging to a record of Rs287,900 per tola.
The current upward trend in gold prices is largely driven by the global market, where gold prices also saw an increase on Tuesday.
According to the APGJSA, the global rate stood at $2,623 per ounce, including a premium of $20, reflecting a $36 rise during the day. The increase in gold prices is attributed to the global upward trend, which is influenced by various economic and geopolitical factors.
As a result, gold prices in Pakistan are likely to remain volatile, with investors and market analysts closely watching the global market trends to predict future price movements.
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