Gold Surges to All-Time High in Pakistan
Gold prices in Pakistan touched another peak on Monday, following gains in the international market.
According to dealers, the rate for 24-karat gold stood at Rs359,800 per tola across all major cities including Karachi, Lahore, Islamabad, Peshawar, and Quetta.
The price for 10 grams also rose, increasing by Rs3,515 to settle at Rs308,470. Market data shows that the precious metal has been volatile in recent weeks.
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On August 12, it was recorded at Rs358,300 per tola, slipping slightly to Rs358,100 the next day and further down to Rs356,200 by August 16.
Read More: Rupee Holds Steady Amid Mixed Forex Movements
However, prices recovered, reaching Rs357,700 on August 18 and now climbing to their highest level yet.
Analysts said the jump was largely driven by international trends, as global bullion markets gained strength. Gold in the world market increased by $41 per ounce, taking it to $3,371 per ounce.
Experts explained that heightened economic uncertainty and increased demand for safe-haven investments had boosted gold’s appeal among traders and investors.
