Gold prices in Pakistan showed a notable increase over the past three hours, driven by upward trends in the international market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola in the local market has risen to Rs. 447,020, marking a jump of Rs. 410 from the day’s start. This increase reflects the ongoing fluctuations in the global gold market, where prices continue to adjust rapidly.
In the international arena, gold prices have seen a similar ascent. The current rate of gold stands at $4,226.10 per ounce, up by $16.9 from the opening price of $4,209.20. This rise corresponds with a high of $4,228.88 and a low of $4,204.32, indicating a volatile yet upward trajectory in the global market. The international surge in gold prices is significantly influencing the local rates, pushing them higher as traders respond to global cues.
Silver prices have also mirrored this upward trend. In the local Pakistani market, silver rates have increased to Rs. 58.74 per gram, up from Rs. 58.56 at the start of the day, as reported by APGJSA. The steady increase in silver prices suggests a consistent demand in the precious metals market, both locally and internationally.
Globally, the precious metals market is experiencing a bullish phase, buoyed by geopolitical tensions and economic uncertainties. These factors have led investors to seek safer assets like gold and silver, thereby driving up their prices. The current market conditions suggest that the trend might continue as long as the macroeconomic factors remain unchanged.
In summary, the local Pakistani gold market has responded to international trends with a noticeable price increase over the last three hours. As global economic uncertainties persist, the demand for gold and silver is likely to remain strong, potentially leading to further price adjustments in the coming days.
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