Gold prices climb at global and local levels
Business
Gold prices rose both globally and in Pakistan following an increase in international bullion rates, pushing local gold prices to new highs.
KARACHI (Dunya News) - Gold prices moved upward at both international and domestic levels on Tuesday, as a rise in global bullion rates passed through to the local market.
In the international bullion market, the price of gold increased by $12 per ounce to reach $4,207. The upward trend overseas had a knock-on effect in Pakistan, where gold prices also registered a sharp increase.
In the local market, the price of gold rose by Rs1,200 per tola, while the price of 10 grams increased by Rs1,029. As a result, gold was sold at Rs443,062 per tola and Rs379,854 per 10 grams in local bullion markets.
Silver prices also followed the same path and posted a strong rise. The price of silver jumped by Rs265 per tola to reach Rs6,367, while the price of 10 grams increased by Rs227 to Rs5,458.
Market analysts said the rise reflects global trends, adding that gold continues to be seen as a safe bet during uncertain times.
