Gold and Silver Prices Witness Major Increase in Global and Local Markets

After a three-day pause, gold and silver prices recorded a significant surge in both international and Pakistani markets, creating concern among buyers and investors.
In the international bullion market, the price of gold per ounce jumped sharply by 111 dollars, reaching 4,666 dollars per ounce. The sharp rise in global prices directly impacted local bullion markets across Pakistan.
According to market reports, the price of gold per tola in Pakistan increased by Rs11,100, reaching Rs488,962. Similarly, the price of 10 grams of gold rose by Rs9,517 to settle at Rs419,206.
Silver prices also witnessed a notable increase. The price of silver per tola rose by Rs223 to Rs8,072, while the price of 10 grams of silver increased by Rs191, reaching Rs6,920.
Economic experts believe that global financial uncertainty, fluctuations in the US dollar, and increased investor interest in safe-haven assets are among the major reasons behind the sharp rise in precious metal prices.