The local bullion market witnessed an extraordinary increase in the value of precious metals on Wednesday, with the price of 24-karat gold per tola reaching a new high of Rs 551,662 after a spectacular increase of Rs 21,100.
This trend of price increases continued across other measures. The price of 10 grams of 24-karat gold increased by Rs 18,090 to Rs 472,961. Similarly, the price of 10 grams of 22-karat gold closed at Rs 433,563 after an increase of Rs 16,583.
This significant increase in local prices was a reflection of a strong rally in the global market, where the international price of gold reached a value of $5,293 with an increase of $211.
The price of silver also saw a notable, though relatively modest, increase. The price of 24-karat silver per tola increased by Rs 271 to Rs 11,911.
Similarly, the price of 10 grams of 24-karat silver increased by Rs 232, closing at Rs 10,211 at the end of business.
The global silver market also reflected this positive trend, where its price traded at $114.36 after an increase of $2.71.