Gold prices recorded a surprising jump on Friday, leaving buyers and investors stunned as rates climbed sharply in both international and local markets.
In the international bullion market, the price of gold rose by $34 per ounce, pushing the global rate to $4,472 per ounce, according to market sources.
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Local Gold Prices in Pakistan
Following the global increase, gold prices in Pakistan also witnessed a major surge.
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The price of 24-karat gold per tola increased by Rs 3,400, reaching Rs 469,562
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The price of 10 grams of gold rose by Rs 2,915, settling at Rs 402,573
The sudden spike has raised concerns among consumers, especially those planning weddings or gold investments in the coming weeks.
Silver Prices Also Increase
Silver prices followed the upward trend in the local market:
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Per tola silver increased by Rs 70 to reach Rs 8,195
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10 grams of silver rose by Rs 60, reaching Rs 7,025
Market analysts attribute the surge in precious metal prices to global economic uncertainty, currency fluctuations, and increased demand for safe-haven assets.
With gold prices touching record highs, traders expect volatility to continue in the coming days.
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