The local market has witnessed a steady rise in gold prices this week, with Tuesday’s trading seeing an increase of Rs1,100, pushing the price per tola to a then-record Rs283,400. In international markets, gold prices experienced an upward surge on Wednesday, with the price per ounce rising by $20, reaching $2,757. The APGJSA also reported an additional premium of $20 during the day.
Global demand for the precious metal has been bolstered by ongoing geopolitical tensions, particularly in the Middle East, and uncertainties surrounding the upcoming US elections, leading investors to seek safer assets like gold.