ISLAMABAD (Kashmir English): Gold prices in Pakistan saw a significant jump on Thursday, with an increase of Rs 4,300 per tola, taking the new rate to Rs 358,400, according to the All Pakistan Sarafa Gems and Jewellers Association.
Market updates showed that the price of one tola of 24-karat gold rose by Rs 4,300, while the cost of 10 grams went up by Rs 3,684, reaching Rs 307,270.
This local surge in Gold prices follows a similar trend in the international market, where gold rates climbed by $43 per ounce to settle at $3,400 per ounce.
An increase in gold prices is caused by a combination of rising interest and new factors impacting the precious metals market.
Gold continues to hold its place as a symbol of wealth and a reliable store of value.
While it is still widely used in jewellery, it is increasingly seen as a financial safe haven, especially during times of economic uncertainty or geopolitical unrest.
Gold has been gaining recognition as a secure option, as many people look for protection due to global uncertainties over recent years. It is not just big financial institutions that show interest in fintech.
Another reason for the rise in gold is that many people are choosing it to protect their savings from market fluctuations.
Increased use of internet trading and ETFs aimed at gold has made investing simpler for people, leading to increased demand.
