Gold prices in Pakistan hit a new high on Tuesday, in line with their increase in the international rates. In the local market, gold price per tola reached Rs406,778 after a single-day rise of Rs3,178.
Similarly, 10-gram gold was sold at Rs348,746 after it registered an increase of Rs2,725, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Monday, gold price per tola reached Rs403,600 after a gain of Rs5,900 during the day.
The international rate of gold also increased today. As per APGJSA, the rate was at $3,855 per ounce (with a premium of $20), an increase of $37 during the day.
On the other hand, silver price declined by Rs16 per tola to reach Rs4,776.
Internationally, gold prices rose to hit a fresh high on Tuesday and were poised for their best month in 14 years, as fears of a potential US government shutdown and growing expectations of further US interest rate cuts boosted demand for the safe-haven metal.
Spot gold was up 0.4% at $3,848.65 per ounce, as of 0309 GMT.
Bullion has risen 11.6% so far in September, and is on track for its best month since August 2011, if current momentum persists.
US gold futures for December delivery gained 0.6% to $3,877.
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