KARACHI (Dunya News) – Gold prices have surged to another historic high in both national and international on Tuesday.
The price of one tola of gold has surged by Rs3,178, reaching an all-time high of Rs406,778. Meanwhile, the price of gold per 10 grams has also risen by Rs2,715, pushing the price to Rs 348,746.
In the global bullion market, the price of gold per ounce has jumped by $37, reaching a remarkable $3,855. This marks a historic peak for the precious metal in international trade. This surge in gold prices has been attributed to various factors in the global economy.
Gold, often used as a safe store of value during times of political and financial uncertainty, thrives in a low-interest-rate environment.
KCM Trade Chief Market Analyst Tim Waterer said, "The $4,000 level now seems a viable year-end target for gold, whilst market dynamics such as lower interest rates and ongoing geopolitical hotspots keep working in favour of the precious metal."