Gold has become more luxurious within the international and local markets, because of which the price of gold has reached a new high.
Yesterday the price of gold inside the global marketplace has increased by $47, which has increased consistently with an ounce to $2,916.
According to today’s reports, the price of gold in the international bullion market rose by $5 per ounce, reaching $2,921.
However, in step with the Sarafa association, the price of gold per tola in the local marketplace increased by Rs 4,800 to Rs 306,300 on Tuesday.
Read more: Gold’s era of rising: Why gold prices are breaking records, and should you invest?
The price of 24-carat gold per tola (11.66 grams) rose by Rs 700 on Wednesday, reaching Rs 307,000. Meanwhile, the price of gold per 10 grams increased by Rs 601, reaching Rs 263,203.
In a similar trend, silver prices also surged, with the price of one tola (11.66 grams) increasing by Rs 54, reaching Rs3,369, while the price per 10 grams rose by Rs 46, reaching Rs 2,888.
Similarly, the rate of 10 grams of gold has increased by Rs 4,115, after which the fee of 10 grams has increased to Rs 262,602.
Globally, spot gold traded near $2,920 an ounce, up $29.6 or 1.02% from the previous session.
Gold prices edged higher on Wednesday, aided by a weaker U.S. dollar and political uncertainty following the latest import tariffs announced by U.S. President Donald Trump.
Analysts are fearing a global trade war as U.S. President Donald Trump’s new price lists on imports from Canada and Mexico came into impact, along with a doubling of responsibilities on goods from China.