The local bullion market witnessed a sharp increase in prices, and the per tola price of 24-carat gold rose by Rs 900 to reach a new high of Rs 481,862.
This significant increase was also consistent across different scales on Tuesday. The 10-gram price of 24-carat gold saw a substantial increase of Rs 771, settling at Rs 413,118.
Similarly, the 10-gram price of 22-carat gold also increased by Rs 707, closing the day at Rs 378,705.
This price increase in the local market was a reflection of the rise in the global market, where the value of gold increased by $9 to reach $4,595 per ounce.
The bullish trend in precious metals also continued in silver, which also recorded a significant price increase. The per tola price of 24-carat silver traded at Rs 9,075 after an increase of Rs 180.
In line with this trend, the 10-gram price of 24-carat silver rose by Rs 154 to Rs 7,780. Globally, the international price of silver increased by $1.80 to settle at $86.00 per ounce.