Gold Prices Rise in Local Markets to $5,136 Per Ounce

Gold and Silver Prices Surge Across Markets

In the international gold bullion market, prices continued their upward trend. The price of one ounce of gold increased by $30 to reach a new record at $5,138. Spot gold’s value rose 0.6% to $5,136.22 per ounce as of 07:29 GMT, marking its highest level since January 30th. US April delivery for gold futures saw an increase by 1.5%, closing at $5,157.50.

In the domestic market, there was significant growth in both gold and silver prices. The price of one tola of gold climbed Rs3,000 to Rs534,562, while gold per 10 grams increased by Rs2,572 to Rs460,015. Silver also saw a notable rise with the spot price increasing by 1.2% to $85.57 per ounce, reaching its highest point in more than two weeks. The price of silver per tola jumped by Rs146 to Rs9,094, and for silver per 10 grams, it rose by another Rs125 to Rs7,796.

The news story highlights the escalating global demand, with gold and silver prices reaching new heights in both domestic and international markets. These developments underscore a shift in market sentiment towards precious metals as safe-haven assets amid economic uncertainties.