The prices of gold and silver hit record highs after nine weeks, as both metals hit record highs in both global and local gold markets.The price of gold surged for the second consecutive session in both global and Pakistani markets on Monday after a slight drop.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold increased by a massive Rs6,200 per tola, reaching Rs462,362, as global rates rose amid steady investor demand.
The price of 10 grams of gold also climbed by Rs5,315 to be sold for Rs396,400, according to the APSGJA.
The price of 10g of 22-karat gold increased by Rs4,872 to reach Rs363,379.
In the international market, gold prices increased by $62 per ounce to settle at $4,400. The uptick reflects sustained global interest in precious metals amid economic uncertainty and shifting currency trends.
Silver followed a similar trajectory, with the price per tola of 24-karat silver rising by Rs218 to Rs7,205. The price of 10 grammes of 24k silver hiked by Rs187 to be sold for Rs6,177.
Internationally, gold jumped past the $4,400-per-ounce level for the first time on Monday, riding on growing expectations of further US rate cuts and strong safe-haven demand, with silver also joining the rally to hit an all-time high.
Spot gold was up 1.4% at $4,397.16 per ounce, as of 0502 GMT, after breaking the $4,400 barrier to hit a record high of $4,400.29 earlier in the day. Spot silver climbed 3.3% to hit a historic high of $69.44.
US gold futures for February delivery rose 0.98% to $4,430.30 per ounce.
Bullion has gained 67% so far this year, shattering multiple records and breaching the $3,000 and $4,000 per-ounce milestones for the first time. It is poised for its biggest annual gain since 1979.
Silver has surged 138% year-to-date, vastly outperforming gold, underpinned by robust investment inflows and persistent supply constraints.
GOLD RATES
The prices of gold and silver hit record highs after nine weeks, as both metals hit record highs in both global and local gold markets.
The price of gold surged for the second consecutive session in both global and Pakistani markets on Monday after a slight drop.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold increased by a massive Rs6,200 per tola, reaching Rs462,362, as global rates rose amid steady investor demand.
The price of 10 grams of gold also climbed by Rs5,315 to be sold for Rs396,400, according to the APSGJA.
The price of 10g of 22-karat gold increased by Rs4,872 to reach Rs363,379.
In the international market, gold prices increased by $62 per ounce to settle at $4,400. The uptick reflects sustained global interest in precious metals amid economic uncertainty and shifting currency trends.
Silver followed a similar trajectory, with the price per tola of 24-karat silver rising by Rs218 to Rs7,205. The price of 10 grammes of 24k silver hiked by Rs187 to be sold for Rs6,177.
Internationally, gold jumped past the $4,400-per-ounce level for the first time on Monday, riding on growing expectations of further US rate cuts and strong safe-haven demand, with silver also joining the rally to hit an all-time high.
Spot gold was up 1.4% at $4,397.16 per ounce, as of 0502 GMT, after breaking the $4,400 barrier to hit a record high of $4,400.29 earlier in the day. Spot silver climbed 3.3% to hit a historic high of $69.44.
US gold futures for February delivery rose 0.98% to $4,430.30 per ounce.
Bullion has gained 67% so far this year, shattering multiple records and breaching the $3,000 and $4,000 per-ounce milestones for the first time. It is poised for its biggest annual gain since 1979.
Silver has surged 138% year-to-date, vastly outperforming gold, underpinned by robust investment inflows and persistent supply constraints.
