KARANCHI: Gold prices have once again gone through the roof as global demand picked up steam following the U.S. Federal Reserve’s decision to slash the interest rate by 25 basis points.
In the international bullion market, the price of gold jumped by a hefty $53 per ounce, hitting a record $4,018 per ounce mark.
The surge in the global market immediately rubbed off on local bullion markets. In Pakistan, 24-karat gold per tola skyrocketed by Rs 5,300, reaching Rs 424,162, while the 10-gram rate climbed by Rs 4,544 to Rs 363,650.
Silver also followed suit, with the per tola price increasing by Rs 158 to Rs 5,192, and the 10-gram rate going up by Rs 136 to Rs 4,451.
