ISLAMABAD: The price of 24 karat per tola gold increased by Rs.3,000 and was sold at Rs.280,900 on Friday 18 October 2024 compared to its sale at Rs.277,900 on last trading day.
The price of 10 grams of 24 karat gold also increased by Rs.2,572 to Rs.240,826 from Rs.238,254 whereas the price of 10 gram 22 karat gold went up to Rs. 220,758 from Rs. 218,400, the All Sindh Sarafa Jewellers Association reported.
The price of per tola silver increased by Rs.50 to Rs.3,100 whereas that of ten gram silver went up by Rs.42.87 to Rs.2,657.75.
The price of gold in the international market increased by $30 to $2,712 from $2,682, the Association reported.
Earlier, gold prices hit a record high above $2,700 on Friday as traders piled into the safe-haven commodity at a time of heightened geopolitical uncertainty, including in the Middle East after Israel said it killed Hamas chief Yahya Sinwar.
READ: Gold breaks above $2,700 to record high
Bullion hit an all-time high of $2,704.89 in early Asian trade, up from its previous record of $2,688.83 touched on Thursday.
Markets have been on edge over the crisis in the Middle East as Israel battles Hamas in Gaza and, more recently, Hezbollah in southern Lebanon, with worries about a region-wide war that could take in Iran.
Gold had already been rallying — piling on around 30 percent since the turn of the year — on the back of central banks’ moves to cut interest rates, which makes the commodity a more attractive asset to investors.
Concerns about the long-running war in Ukraine have added to the desire for safer investments.
