Gold prices continued to rise on Tuesday, with a significant increase in both international and local markets.
According to reports, the price of gold in the international bullion market increased by $10 per ounce, reaching a new level of $2642.
As a result, the price of 24-carat gold per tola in the local markets also rose by Rs 1000, reaching Rs 276,000.
Additionally, the price of 10 grams of gold increased by Rs 857, reaching Rs 236,625.
In contrast, the price of silver remained unchanged, with the cost of one tola of silver steady at Rs 3350, and the price of 10 grams of silver remained at Rs 2872.08.
Globally, gold prices edged higher on Tuesday as the US dollar weakened, driven by uncertainty surrounding President-elect Donald Trump’s tariff policies.
Additionally, support for the precious metal came from China’s central bank, which added to its gold reserves for the second consecutive month.
Spot gold rose 0.3%, reaching $2,642.32 per ounce. U.S. gold futures also gained 0.2%, trading at $2,653.60.
In 2024, gold prices saw a notable increase of about 27%, primarily driven by significant central bank purchases and the Federal Reserve's rate cuts.
Other precious metals also saw gains, with spot silver rising 0.8% to $30.18 per ounce, platinum increasing 1.7% to $948.95, and palladium advancing 0.7% to $926.58.
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