ISLAMABAD (Kashmir English): The price of gold per tola in Pakistan has crossed Rs 5 lakh for the first time, creating an unusual situation in the country’s bullion market.
After the sharp increase in gold prices in the global market, Pakistan’s gold market also came under severe pressure, where a historic increase in prices was recorded in a single day. This sudden increase has attracted investors, while also creating concern and anxiety among the common citizens.
According to the All Pakistan Gems and Jewelers Association, there was a huge increase of Rs 12,700 in the price of gold per tola on Wednesday, after which the price of gold per tola in the country increased to Rs 5 lakh 6 thousand 362.
This increase is being described as the biggest increase in a single day in the history of the Pakistani gold market, which has created a stir in the bullion market.
Similarly, there has been a significant increase in the price of 10 grams of gold. Today, 10 grams of gold rose by Rs 10,888 to reach a record high of Rs 434,123, which is the first time in the country’s history that it has crossed Rs 4.25 lakh. This surge in prices has become a cause of concern not only for investors but also for ordinary people buying jewelry.
According to experts, geopolitical tensions at the global level and the policies of central banks of various countries have played an important role in the increase in gold and silver prices.
Today, the price of gold per ounce in the global market reached a record level of $ 4,840 after increasing by $ 127. At the same time, the price of silver per tola also increased by Rs 64 to reach a high of Rs 9,933.
An increase was also recorded in the price of gold futures for February delivery in the United States, where it continued to trade at about $ 4,813 per ounce. The rising prices of gold and silver are leading to increased demand in the market as a safe investment. This situation clearly reflects the growing demand and investment trend for precious metals, not only in the domestic market but also globally.
