KARACHI – Gold prices reached all-time high level in domestic and international markets owing to rising oil prices amid Middle East crisis.

According to Sarafa Association, the price of 24-karat gold moved up by Rs600 to close at Rs245,700, the highest prices in the history of Pakistan.

The price of 10-gram surged by Rs514 to close at record high of Rs210,648 in domestic market of Pakistan.

The yellow metal also witnessed upward trend in international market where its price increased by $5 to settle $2,355 per ounce.

Meanwhile, silver prices saw no change in Pakistan and stand at Rs2,650 per tola and Rs2,271.94 per 10-gram.

Per tola Gold Price in Pakistan on April 08

The per tola gold price in Pakistan stands at Rs245,700 after witnessing an increase of Rs600 on April 08, 2024.

Why are Gold Prices Increasing?

Experts are of the view that Iran-Israel tension over Gaza and recent cut in interest rate by US central bank have put pressure on gold.

They said the demand of the commodity has also increased due to rising oil prices in the international market.