KEY POINTS
- Gold per tola gains Rs 8,500 to Rs 470,862
- 10-gram gold sold at Rs 403,688 after Rs 7,288 increase
- International gold rate rises by USD 85 to USD 4,485 per ounce
- Silver remains steady at Rs 7,205 per tola
- Rising global inflation and economic uncertainty drive demand
ISLAMABAD: Gold prices in Pakistan rose sharply to a new high on Tuesday, following gains in the international market amid rising global inflation and economic uncertainty.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola reached Rs 470,862, up by Rs 8,500, while 10-gram gold was sold at Rs 403,688, after increasing by Rs 7,288.
On Monday, the price per tola had reached Rs 462,362, gaining Rs 6,200 during the day.
The international gold rate also surged by USD 85, reaching USD 4,485 per ounce with a premium of USD 20.
Analysts at Bloomberg noted that the spike reflects investors seeking safe-haven assets amid concerns over slowing economic growth and persistent inflation globally.
Meanwhile, silver prices remained unchanged at Rs 7,205 per tola, according to APGJSA data.
