Gold prices continued their upward trajectory to hit a fresh record high in Pakistan on Tuesday, in line with their increase in the international rates. In the local market, gold price per tola reached Rs398,800 after a single-day rise of Rs5,100.
Similarly, 10-gram gold was sold at Rs341,906 after it registered an increase of Rs4,372, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Monday, gold price per tola reached Rs393,700 after a single-day rise of Rs3,400.
The international rate of gold also increased today. As per APGJSA, the rate was at $3,770 per ounce (with a premium of $20), an increase of $51 during the day.
Meanwhile, silver price increased by Rs42 per tola to reach Rs4,637.
Meanwhile, international gold prices steadied on Tuesday after reaching a record high, underpinned by expectations of more U.S. rate cuts and a weaker dollar, as investors awaited Federal Reserve Chair Jerome Powell’s speech for further policy cues.
Spot gold held its ground at $3,743.39 per ounce as of 0238 GMT, after hitting a record high of $3,759.02 earlier in the session.
U.S. gold futures for December delivery rose 0.1% to $3,779.50.