KARACHI:
Gold prices in Pakistan soared to new all-time highs on Monday, mirroring the international surge that pushed the precious metal above $3,900 per ounce, fueled by growing expectations of a US Federal Reserve rate cut and heightened economic and political uncertainty in the United States, France, and Japan.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold per tola reached Rs415,278 after a single-day rise of Rs5,400, while the rate for 10 grams rose by Rs4,629 to settle at Rs356,033. On Saturday, the per-tola price had already climbed to Rs409,878 following a gain of Rs2,100.
The latest rally marks a continuation of gold's seven-week winning streak, during which the metal has repeatedly set new records. However, analysts now warn th