The local bullion market saw a massive surge on Tuesday, with the per tola price of 24 karat gold experiencing a staggering increase of Rs 24,000.
Following this significant hike, the new price for one tola of 24 karat gold reached Rs 514,362. Similarly, the price of 10 grams of 24 karat gold increased by Rs 20,576 to Rs 440,982.
The price of 22 karat gold was not exempt from this upward trend, with its 10-gram price reaching a new level of Rs 404,248 after an increase of Rs 18,862.
This change in local prices reflects a major movement in global markets, where the international price of gold saw a substantial increase of $240, bringing its value to $4,916.
This surge was not limited to gold, as silver prices also recorded a significant increase. The per tola price of 24 karat silver closed at Rs 9,146, up by Rs 741.
Correspondingly, the rate for 10 grams of 24 karat silver rose by Rs 636 to Rs 7,841. Globally, the price of this precious metal ended the day at $86.71, with an increase of $7.41.