Gold prices increase Rs7,700 per tola in Pakistan

ISLAMABAD: Gold rates recorded a whooping increase in Pakistan on Tuesday a day after they remained unchanged.

As per the details, data shared by All Pakistan Gems and Jewellers Association showed the price of per tola of 24-karat gold jumped by Rs7,700 to reach Rs436,562, compared to previous close of Rs428,862.

Similarly, the price of 10 grams of gold increased by Rs6,601, rising to Rs374,281 from Rs367,680.

In the international market, gold prices soared by $77, reaching $4,142 per ounce compared to the previous rate of US$ 4,065.

Meanwhile, the price of per tola silver surged by Rs152 to Rs5,422 from Rs5,270, while the rate of 10 grams silver increased by Rs130, climbing to Rs4,648 from Rs4,518.

On the other hand, US Export-Import Bank (EXIM) is set to invest $100 billion to secure supply chains for critical minerals, nuclear energy, and liquefied natural gas.

A report shared by British media quoted bank’s chair John Jovanovic said Us will secure strategic resources as EXIM is set to deploy staggering $100 billion to strengthen supply chains for critical minerals, nuclear energy, and liquefied natural gas. John Jovanovic, revealed the plans, calling out the West’s over-reliance on certain raw materials as “no longer fair.”

The first wave of investments will target key projects in Pakistan, Egypt, and Europe, in what is said to be major shift in global resource strategy. Among early deals are $4 billion credit insurance guarantee for natural gas shipments to Egypt by New York-based commodities firm Hartree Partners and a $1.25 billion loan to develop the Reko Diq mine in Pakistan, operated by Barrick Mining.

EXIM has $100 billion left to deploy from the $135 billion authorized by Congress, a massive pool aimed at securing materials vital to both U.S. and allied energy and defense infrastructure. Jovanovic emphasized that these supply chains are essential.