Gold prices have surged significantly in Pakistan, marking a notable hike in both the local and international markets. Here’s the latest update on this precious metal:

Local Market Updates:

1. One Tola of Gold: The price of one tola of gold has increased by Rs2,300, bringing it to Rs282,800.
2. 10 Grams of Gold: Similarly, the price of 10 grams of gold has risen by Rs1,971, reaching Rs242,455.

In comparison to yesterday, the price of 24-carat gold per tola had already risen by Rs3,100, reaching Rs280,500, while the price of 10 grams of gold went up by Rs2,658, settling at Rs240,484.

The price of silver has also experienced an increase:

• Silver Per Tola: Increased by Rs50, reaching Rs3,450.
• 10 Grams of Silver: Saw a hike of Rs42.86, reaching Rs2,957.81.

International Market Updates:

In the global market, gold prices have climbed steadily:

• Gold saw a rise of $23, reaching $2,716 per ounce.
• Earlier, gold reached its highest level since November 6, touching $2,725.79 per ounce.

However, U.S. gold futures experienced a minor decline of 0.2%, settling at $2,750.70. Spot gold remained largely unchanged at $2,717.80 per ounce.

Other precious metals also saw upward trends:

• Spot Silver: Increased by 0.8% to $32.15 per ounce.
• Platinum: Rose by 0.7% to $946.05 per ounce.
• Palladium: Gained 0.8%, reaching $989.25 per ounce.

Market Insights

The rising prices reflect growing market demand and fluctuations in the global economy. Investors often turn to gold as a safe-haven asset during times of economic uncertainty, driving up its value. With prices reaching new highs, both gold and silver continue to be lucrative investment options.

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