Gold hits new all-time high after jumping over Rs8,000 per tola

KARACHI: Gold prices have reached new record highs in both the local and international markets.

In Pakistan, the price of gold per tola surged to an unprecedented Rs348,000 on Wednesday, marking an increase of Rs8,600 in just one day.

The price of 10 grammes of gold also saw a significant rise, reaching Rs298,353, up by Rs7,373, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Meanwhile, the international price of gold also hit a historic peak on Wednesday, with the cost per ounce reaching $3,310, an increase of $86, plus a $20 premium, as reported by the APGJSA.

Earlier on Tuesday, gold prices had risen by Rs600, settling at Rs339,400 per tola.

In contrast, the silver market saw an uptick, with the price of silver per tola rising by Rs63 to Rs3,460 in Pakistan.

On the other hand, the Pakistan Stock Exchange (PSX) ended the day in the red, falling by 755 points to close at 116,020.10 points, after a day of considerable fluctuations.

The stock market had previously closed at 116,775 points on Tuesday.

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