Gold out of the reach of the public, price per tola set a new record

The impact of the increase in gold prices in the global market is also affecting Pakistan, where gold per tola increased by Rs 1500 to Rs 4,16,778. According to the All Pakistan Gems and Jewellers Association, 10 grams of gold sold for Rs. The price of gold had also seen a significant increase yesterday, when gold per tola had risen by Rs 5400 to Rs 4,15,278. The global market also recorded an increase in gold rates, where gold rose by $15 to $3955 per ounce, while premiums remained at $20. Also read : Gold prices in the country hit Rs 4 lakh per towala
Meanwhile, silver saw a decline in price, which came down by Rs 20 to Rs 4929 per tola. Spot gold is currently trading near $3960 per ounce internationally, when it hit a new high of $3977 19 cents during the day. According to Goldman Sachs, the financial services agency of the United States, one of the reasons for the increase in gold prices in addition to tariffs is the purchase of more gold by central banks, especially China and emerging economies. Experts also see the freezing of Moscow's assets after the Russian attacks on Ukraine as one of the reasons for the rise in gold prices in the global market. The United States ranks first in the world in terms of gold reserves, while China holds this honor in Asia, India ranks eighth globally and second in Asia, Pakistan is 49th in the world list. According to the report, the United States, Germany and Italy are the top gold reserves, China and India have the highest gold reserves in Asia. According to the World Gold Council, central banks in different countries purchased more than 1,000 metric tons of gold in 2024, nearly double the average annual purchases of the previous decade.