Gold jumps to new record in Pakistan

The price for 10 grams of gold also saw a significant rise, reaching Rs237,654, up by Rs1,886.

These changes align with the increase in international gold rates, which were quoted at $2,675 per ounce, up by $22 from the previous day.

In contrast, silver prices remained stable at Rs3,050 per tola. Last month, gold prices had previously peaked at Rs277,000 per tola.

Market analysts attribute the rise in gold prices to easing US Treasury yields and anticipation of upcoming US economic data that may influence Federal Reserve interest rate decisions.

 

Traders are currently pricing in a strong likelihood of a 25 basis-point rate cut in November.