KARACHI – Gold prices shot up further in both international and domestic markets on Monday, pushing the precious metal to record-breaking levels.
In the international bullion market, the price of gold jumped by $34 per ounce, touching a new peak of $3,719 per ounce.
Back home, local gold markets also saw a sharp rise. The price of gold per tola surged by Rs3,400, reaching a historic level of Rs393,700 per tola. Meanwhile, the rate of 10 grams of gold climbed by Rs2,915 to settle at Rs337,534.
Market watchers say this fresh rally in gold prices is largely driven by global uncertainties, with investors flocking to the yellow metal as a safe haven. Analysts believe the trend shows no sign of slowing down, and prices may continue to climb if the global economic jitters carry on.
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Experts add that the surge has hit ordinary buyers hard, making jewelry purchases heavier on the pocket.