Gold price increases by Rs1,500 per tola
Business
Gold continues its upward journey as prices rise again by Rs1,500 per tola, touching Rs416,778 in local markets, while international rates also see a $15 jump.
KARACHI (News Desk) – The gold market is on a roll once again as prices keep going through the roof.
According to the All Pakistan Gems and Jewellers Association, the price of gold per tola increased by Rs1,500, reaching Rs416,778 on Monday.
Similarly, the rate for 10 grams of gold climbed by Rs1,286, bringing it to Rs357,319.
The Association noted that the international gold price also went up by $15, hitting $3,955 per ounce.
Jewellers say that the market is “on fire” due to rising global demand and a weakening rupee.
Read more: Gold sets new record as prices climb by Rs3,178 per tola
“Investors are playing it safe and turning to gold as a secure haven,” one trader remarked, adding that prices may stay on the higher side if the international trend continues.
With gold shining brighter each day, buyers are finding it harder to keep up, while traders believe the yellow metal is still calling the shots in the market.
