Gold nears record levels worldwide, lifts local prices sharply
At current prices, the looted gold is worth around $70 million. PHOTO: PIXABAY
Gold prices climbed once again in both international and domestic markets on Monday, extending the strong upward trend seen in recent days.
In the international bullion market, spot gold slipped 0.7% to $4,204.50 per ounce by 1215 GMT, after falling more than 1% earlier in the session.
Read: Gold surges to Rs446,862 amid 6-week global high
Despite the dip, prices remain near historic highs. On Monday, gold had surged $27 per ounce, touching $4,245, which pushed domestic rates higher.
Following the global movement, the price of 24-karat gold in local markets rose by Rs2,700 per tola, bringing the new rate to Rs446,862.
The price of 10 grams of gold also increased by Rs2,315, reaching Rs382,112.
Read More: Gold prices drop in domestic, global markets
Silver mirrored the volatility. After hitting a record high of $58.83 per ounce on Monday, spot silver eased 0.9% to $57.42 per ounce internationally.
In Pakistan, silver prices continued to rise, with per tola silver gaining Rs54 to reach Rs5,963, while 10 grams silver increased by Rs46 to Rs5,112.