Gold price rises Rs1,000/tola, rupee loses 10 paisa vs dollar

Gold prices continued their upward trajectory on Tuesday, in line with the international market trend. The price of gold per tola rose Rs1,000, reaching Rs304,200, while the 10-gram price increased Rs857 to Rs260,802, according to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA). This follows a Rs1,700 per-tola increase recorded on Monday. On the global front, gold prices also experienced an uptick, with the metal trading at $2,910 per ounce, reflecting a $10 increase, including a $20 premium, as per APSGJA. According to Mohammad Qasim Shikarpuri, President of APSGJA, the global economic slowdown and financial instability have driven investors towards gold as a safe-haven asset. He explained that the rising investment demand for gold is not limited to Pakistan but is a worldwide phenomenon.