KARACHI: Gold and silver prices climbed to new record levels on Saturday in both global and local markets, as investors moved toward safe assets amid economic uncertainty.
In the international bullion market, gold jumped by 65 dollars per ounce. The increase pushed prices to an all time high of 4,988 dollars per ounce.
The global rise had an immediate impact in Pakistan. The price of 24 karat gold increased by Rs6,500 per tola, taking it to a record Rs521,162. Gold priced at 10 grams also moved up sharply, rising by Rs5,573 to Rs446,812.
Silver followed the same trend. The per tola price of silver went up by Rs526 to reach Rs10,801. The rate for 10 grams increased by Rs451 to Rs9,260.
Market participants say ongoing global uncertainty, inflation worries, and strong demand for safe investment options are driving precious metal prices higher.
