Pakistani Gold Price Surges by Rs. 13,700 as Global Markets Reach New Heights
Gold prices in Pakistan have experienced a significant surge after rising by Rs. 13,700 per tola to reach a new high of Rs. 471,936. This price increase comes on the heels of a previous drop of Rs. 3,700 per tola to Rs. 458,236 just a day prior.
The latest rate was reported by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) and marks a substantial rise in the precious metal's value. The price of 10-gram gold also climbed by Rs. 11,746, reaching Rs. 404,609.
The international market has been influenced by expectations surrounding US monetary policy, movements in bond yields and the dollar, as well as continuing geopolitical tensions in the Middle East. Gold has staged a strong recovery in August after falling sharply earlier in the year, with investors increasingly returning to the metal as a safe-haven asset.