KARACHI : Gold and silver prices have reached new historical highs in global and local markets. In addition to the tense situation between the European Union countries and the United States, the arrival of a US aircraft carrier in the Middle East, and the looming threat of war in the region due to Iran’s military exercises in the Strait of Hormuz, creating an uncertain environment in global and local markets, global and local prices of gold and silver have reached new highs in history. As the price of gold per ounce in the international bullion market suddenly increased by $211 to a new high of $5,293, the price of 24-carat gold per tola in the local bullion markets also reached a new high of Rs551,662, a record increase of Rs21,100, during a single-day trading session for the first time in the country’s history. In addition, the price of gold per ten grams also increased by a record Rs. 18,090 to a new historic level of Rs. 472,961. Similarly, as the price of silver per ounce in the global market increased by $2.36 to a record high of $114.27, the price of silver per tola in the local bullion markets also increased by Rs271 to a new high of Rs11,911, and the price of silver per ten grams also increased by Rs232 to a high of Rs10,211. Globally, the US dollar has fallen to a 4-year low due to the de-dollarization policy, and the geopolitical situation is increasing the demand for gold to increase assets. Meanwhile, central banks in most countries around the world are also seeing a trend of increasing pure gold purchasing activities, which is pushing gold and silver prices to new historical highs on a daily basis.
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