KARACHI: Gold prices in Pakistan hit another record high on Wednesday, rising by Rs5,800 to reach Rs440,900 per tola.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10 grams of gold also increased by Rs4,972, reaching Rs378,000.
A day earlier, on Tuesday, gold had already touched a record of Rs435,100 per tola after jumping Rs6,900 in a single day.
The international market also saw a big rise, with gold prices climbing to $4,198 per ounce, up $58 from the previous day.
Experts said the increase was driven by expectations of further US interest rate cuts and growing trade tensions between the US and China, which boosted demand for gold as a safe investment.
In comparison, silver prices in Pakistan also went up by Rs90 per tola, reaching Rs5,337.
Meanwhile, the Pakistani rupee showed a slight improvement against the US dollar. By 10:40am, the rupee traded at Rs280.92 in the interbank market, gaining 23 paisas from Tuesday’s closing rate of Rs281.15.
