Gold per tola hits new high with Rs8,300 increase

After a slight decrease, gold prices in the country surged by Rs8,300 today. A 24-karat gold tola is now valued at Rs443,062.

According to the All Pakistan Gems and Jewellers Association, the price of gold saw a decline of Rs1,000 yesterday. This huge jump has skyrocketed its price, with 10 grams of gold now costing Rs379,854 following a rise of Rs7,116.

Internationally, gold prices rose by $83 per ounce, reaching $4,207 in the global bullion market.

Silver prices also saw an increase of Rs228, reaching Rs5,662 per tola. The price of 10 grams of silver increased by Rs196 (up from yesterday’s Rs4,658) to Rs4,854.

The rise in gold prices is fueled by global economic instability, geopolitical tensions, and inflation, which boost gold's appeal as a safe haven investment.

Additional factors contributing to the increase include central bank purchases, a weaker US dollar, and higher demand from the jewelry and technology industries.