Gold prices continued their upward trajectory on Friday, reaching an all-time high in Pakistan. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola soared by Rs. 10,000 in a single day, settling at Rs. 338,800 in the local market.
Yesterday, the price of gold rose by Rs. 7,800 per tola. Today’s increase means that the price of the yellow metal has surged by Rs. 17,800 per tola in just two days, which is the biggest ever two-day increase in the local market.
The price of 10 grams of gold also jumped significantly, rising by Rs. 8,573 to reach Rs. 290,446.
The surge in domestic prices mirrors a similar trend in the international market, where gold rose to $3,218 per ounce on Friday, an increase of $100, including a $20 premium, as reported by the APGJSA.
Investors are flocking to safe haven assets amid escalating concerns over a deepening US-China trade war, resulting in stellar gains for gold.
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