Gold hits new all-time highs in global and local markets

Gold prices have hit record highs globally at $2,726 per ounce.

Global and local gold prices have surged to a new all-time high.

According to Express News, the international bullion market saw a $5 increase per ounce today, pushing the price to a record $2,726 per ounce.

Similarly, the domestic market also witnessed a significant rise in gold prices.

In Pakistan, the price of gold per tola increased by Rs. 500, reaching a new peak of Rs. 282,300, while the price of 10 grams rose by Rs. 429, bringing it to Rs. 240,027.

On the other hand, Silver prices have surged to a high per tola silver rate in Pakistan today is PKR 3,505, while the rate for 10 grams is PKR 3,008.

Earlier on Saturday, International bullion market, the price of gold per ounce increased by $9, reaching a new record high of $2,721.

Meanwhile, in local markets, the price of 24-karat gold per tola rose by Rs900, reaching an all-time high of Rs281,800. Similarly, the price of 10 grams of gold increased by Rs772, bringing it to a record Rs241,598.

The price of silver per tola increased by Rs50, reaching Rs3,150, while the price of 10 grams of silver rose by Rs42.87, reaching Rs2,700.62.

Previously gold prices in Pakistan continued their upward climb on Friday, in line with rising international rates. The price of gold per tola surged by Rs3,000, reaching Rs280,900.

The recent spike in gold prices has been linked to several factors, including rising tensions in the Middle East, uncertainties surrounding the upcoming U.S. elections, and a shift towards more accommodative monetary policies.

Alongside gold, silver prices also saw an increase, climbing by Rs50 to reach Rs3,150 per tola.

Market analysts indicate that investors are increasingly seeking gold as a safe-haven asset in the face of global economic instability, which is pushing demand higher and driving prices to record-breaking levels.