Global Rally Drives Gold Prices Up $108/Oz to $4,327
Gold prices have surged in Karachi following a global rally, with the local market reflecting increased demand for safe-haven assets.
The price of gold per tola jumped by Rs.10,800 to reach Rs.455,136, while the rate for 10 grams rose by Rs.9,720 to settle at Rs.389,600.
On the international market, gold climbed by $108 per ounce to reach $4,327, driven by continued strength in global bullion demand.
Silver prices also increased, with the price of silver per ounce rising by $2.30 to reach $70.30 in the global market.
Analysts attribute these gains to a reported peace agreement between the US and Iran, easing naval blockades, and a 4% decline in global oil prices.