KARACHI (Webb Desk) – Gold prices shot up once again on Wednesday, hitting new record highs both in international and local markets.
In the global bullion market, the price of gold soared by $35 per ounce, reaching an all-time high of $3,890 per ounce. This sudden jump sent ripples through domestic markets, pushing prices to unprecedented levels.
Back home, the price of 24-karat gold jumped by Rs3,500 per tola, climbing to a new record of Rs410,278 per tola. Similarly, the price of 10 grams of gold rose by Rs3,001, touching Rs351,747.
Market analysts say investors are rushing to buy gold as a safe haven amid ongoing global economic uncertainty. “With inflation showing no signs of slowing down and geopolitical tensions heating up, gold prices are likely to stay on the rise,” one analyst noted.
Read also: Gold prices hit all-time high in global and local markets
The recent hike has once again put pressure on local consumers, many of whom are already struggling to make ends meet. Jewelers, however, believe the upward trend could continue in the coming weeks if global demand stays strong.
In short, gold is once again making headlines and breaking records, leaving both investors and ordinary buyers feeling the heat.