ISLAMABAD (Kashmir English): Following the ongoing upward trend in the global market, a significant increase in silver and gold prices has been recorded in Pakistan, due to which the precious metals have reached new highs.
A continuous increase in gold and silver prices is being seen globally, which is having a direct impact on the local market. Today, on the first day of the business week, a major increase in the prices of both gold and silver has been reported in Pakistan.
On the last day of the last business week, Saturday, gold and silver prices were recorded to decline. On that day, the price of gold per tola fell by Rs 4,700, while the price of silver per tola fell by Rs 106; however, the situation changed completely at the beginning of the new week.
Today, the price of gold per ounce in the global market reached $ 4,424 after increasing by $ 92. As a result of this significant increase in the global price, the price of gold in Pakistan increased by Rs 9,200 per tola, while the price of 10 grams of gold increased by Rs 7,888.
After this increase, the new price of gold per tola in the country has reached Rs 464,762, while 10 grams of gold is being sold for Rs 398,458.
The effects of the global market have also been clearly seen in silver prices. After the increase in the price of silver globally, the price of silver per tola in Pakistan increased by Rs 267, after which the new price of silver per tola has reached Rs 8,023.
It should be noted that gold is traditionally considered a safe investment. The price of gold is seen to increase during periods of inflation, political and economic instability. Gold has been used as a stable form of currency and wealth for centuries, and investors turn to gold when they face uncertainty regarding other assets.
