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LAHORE, Sep 29 (APP): The price of gold per tola in the country has crossed the 400,000 mark for the first time, reaching a record high of Rs 400,600.
According to the local Sarafa Association in the bullion market, 24-carat gold per tola has become more expensive by Rs 5,900, crossing the Rs 400,000 mark for the first time in history.
10 grams of gold has increased by Rs 5,058 to a record level of Rs 346,021 for the first time, while the price of silver per tola has increased by Rs 88 to Rs 4,792 for the first time.
In the global market, gold per ounce has increased by $ 59 to a record level of $ 3,818 for the first time.
It should be noted that in Pakistan, there was a time when the tradition was that brides used to be adorned with heavy gold sets, now families are retreating and choosing imitation jewelry or silver-plated alternatives, the only reason for which is the daily increase in the price of gold.
Record high global gold prices, driven by geopolitical tensions and economic volatility, are reshaping social norms and financial decisions across Pakistan.
Gold has long been considered a safe haven for investors, with its prices rising rapidly both globally and locally. The price of gold per tola in Pakistan has recently hit a record high, with some market analysts warning that if the current trend continues, it could reach Rs 450,000 in the next six to eight months.
The rise in international gold prices is due to a combination of geopolitical uncertainty, central bank hoarding and monetary policy changes in the US.