Domestic rates hit fresh peak on Thursday

Gold prices climbed further on Thursday in both local and international markets, extending the upward trend that has persisted in recent weeks.

Figures released by the All Pakistan Gems and Jewellers Association showed that the domestic price of gold rose by ₨900 per tola, bringing it to ₨362,600. Likewise, the price of 10 grams of gold increased by ₨772, reaching ₨310,871.

On the global front, international bullion prices also saw movement. The cost of an ounce of gold rose by $9 to stand at $3,399.

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Analysts said that fluctuations in the global market, coupled with concerns over inflationary pressures, are influencing investor behaviour. Gold is often regarded as a safe-haven asset during uncertain times, leading to demand in both domestic and foreign markets.

Local jewellers noted that while demand for gold jewellery has been subdued due to high prices, investment demand has remained steady.