Gold prices surge by Rs 2,900 in three-days spurt

Meanwhile, Silver prices have remained steady at Rs. 2,850 per tola

KARACHI:

The gold prices has further surged in both international and local markets following two days gain.

In the global bullion market, the price of gold per ounce has risen by $9, pushing the new global price to $2,364 per ounce.

Similarly, in local markets, the price of 24-carat gold per tola (11.66 grams) has reached Rs. 244,400, marking an increase of Rs. 1,100 on Friday. The price of 10 grams of gold has also climbed by Rs. 944 to reach Rs. 209,534.

In contrast, silver prices have remained stable in the country, unchanged at Rs. 2,850 per tola and Rs. 2,443.41 for 10 grams.

Market analysts attribute the rise in local gold prices to subdued buying activity, prompting them to set the local market price of gold per tola at Rs. 3,000, reflecting current market conditions.