Gold prices hit record highs in global, local markets

Gold prices have surged to new all-time highs in both global and local markets due to recent increases.

In the international bullion market, the price of gold per ounce rose by $11, reaching a new high of $2,737.

As a result, local jewelry markets also saw a rise, with the price of 24-carat gold per tola increasing by Rs1,100, reaching a record high of Rs283,400.

It was previously sold at Rs282,300 during the last trading day.

Similarly, the price of 10 grams of gold jumped by Rs943, reaching Rs242,970, the highest ever recorded.

However, in contrast, the price of silver remained unchanged, with the per tola rate holding steady at Rs3,150 and the 10-gram rate remaining stable at Rs2,700.62.

The recent surge in gold prices is being attributed to a variety of factors, such as escalating tensions in the Middle East, uncertainties about the upcoming U.S. elections, and a move towards more lenient monetary policies.

According to market analysts, investors are turning to gold as a safe-haven asset amid global economic instability. This heightened demand is pushing prices to unprecedented levels.