Gold prices hit record high amid global economic uncertainty

ISLAMABAD: The price of gold has once again reached an all-time high due to the continuous global and local upward trend in the bullion market.

The reason for this increase is the increasing investment in gold worldwide, especially in the United States and other major economies, as investors are looking for safe havens amid economic uncertainty. As a result, international and domestic gold prices have reached record-breaking levels.

The price of gold per ounce in the international bullion market increased by $13 to reach a new high of $2,997. Following this global trend, prices in Pakistan’s local gold market also saw a significant increase.

The price of 24-karat gold per tola increased by Rs1,100, reaching a new record of Rs314,800 per tola. Similarly, the price of 10 grams of gold increased by Rs943 to Rs269,890, which is the highest price in the country’s history.

Meanwhile, silver prices remained stable despite the rise in gold prices. Silver prices remained stable at Rs 3,530 per tola while the price of 10 grams remained at Rs 3,026.

With gold prices continuing their upward momentum, market analysts have predicted continued volatility in the bullion sector, influenced by global economic conditions and investor sentiment.