KARACHI: Gold and silver prices surged to historic highs in both international and domestic markets on Saturday, driven by strong global demand and market uncertainty.
In the international bullion market, the price of gold recorded a sharp increase of $65 per ounce, pushing it to a new all-time high of $4,988 per ounce.
The impact of the global rally was also felt in the local market. The price of 24-karat gold per tola jumped by Rs6,500, reaching a record level of Rs521,162. Similarly, the price of 10 grams of gold rose by Rs5,573 to Rs446,812.
Silver prices also witnessed a strong upward trend. The price of silver per tola increased by Rs526, climbing to a new peak of Rs10,801, while 10 grams of silver rose by Rs451 to Rs9,260.
Market analysts attribute the continued surge in precious metal prices to global economic uncertainty, inflation concerns, and increased investor demand for safe-haven assets.
