Gold prices reach record high with Rs7,800 increase per tola

Gold prices in Pakistan saw a sharp rise on Thursday, following an increase in global markets. The All-Pakistan Gems and Jewelers Sarafa Association (APGJSA), reported that gold increased by Rs7,800 per tola, reaching Rs328,800 in other provinces.

The price for 10 grams of gold also increased significantly, going up by Rs6,688 to hit Rs281,893. This spike came just a day after a Rs3,000 jump on Wednesday, showing a continuous upward trend in gold prices across the country.

The rise in local prices is directly linked to the international market. As per APGJSA, the global gold rate has now reached $3,118 per ounce, which includes a $20 premium. This marks a $78 increase in just one day.

Silver prices also climbed. The price of silver per tola rose by Rs64, now standing at Rs3,234.

Experts say the strong global demand for gold and market uncertainty are the main reasons behind these rising prices. Many investors are turning to gold as a safe investment, which continues to push prices higher.

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