Gold prices in Pakistan experienced a notable increase over the last 21 hours, mirroring a similar trend in the international markets. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola in the local market rose by Rs. 1,620, reaching Rs. 441,360 from the day start of Rs. 439,740. This upward movement reflects a strong demand in the precious metals market amidst fluctuating economic conditions.
The international market also witnessed a significant rise in gold prices. The price of gold per ounce saw an increase of $47.11, climbing from $4,163.38 to $4,210.49. This surge is attributed to various global economic factors, including currency fluctuations and investor interest in safe-haven assets.
In addition to gold, silver prices in the local market followed a similar trajectory. The price of silver per tola increased from Rs. 53.44 to Rs. 56.40, marking a rise of Rs. 2.96. This increase aligns with the global trend, where silver is gaining traction as a valuable investment amidst market uncertainties.
The past 21 hours of trading have demonstrated a robust performance in precious metals, with both gold and silver showing positive trends. This growth is largely driven by global economic dynamics, where investors are seeking security in tangible assets like gold and silver to hedge against economic volatility.
Overall, the gold market in Pakistan has shown resilience and growth, reflecting broader international trends. As global markets continue to evolve, the demand for gold and silver is expected to remain strong, influenced by ongoing economic developments and investor sentiment. The APGJSA remains a crucial source for understanding these market shifts, providing essential insights into the pricing and movement of precious metals.
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