The local gold market witnessed a significant increase in the prices of precious metals, under which the per tola price of 24 karat gold saw a substantial increase of Rs 2,200, reaching a new high of Rs 455,762.
This trend of price increase was observed on Thursday across all reported categories of gold and silver, reflecting a bullish trend in both local and international markets.
Following the main indicator, the 10-gram price of 24 karat gold also saw a significant increase of Rs 1,800, settling at Rs 390,742. Similarly, the 10-gram price of 22 karat gold increased by Rs 1,275 to close the day at Rs 357,919.
This increase in local prices was in line with global trends, where the price of gold in the international market rose by $22 to $4,334. This global bullishness played a key role in the price increase in the local bullion market.
The silver market was also not immune to this bullish trend and saw an increase in prices. The per tola price of 24 karat silver increased by Rs 78 to Rs 6,900.
Alongside this, the 10-gram price of 24 karat silver increased by Rs 67, after which its new price was recorded at Rs 5,915. Globally, the value of silver also increased by $0.78 and traded at $66.28.