On Wednesday, the country witnessed a significant milestone in its economiclandscape as the price of gold soared to unprecedented levels, marking ahistoric increase. According to the Sarafa Association, the per tola priceof gold skyrocketed by Rs2200, reaching a staggering Rs251,900.Simultaneously, the price of 10 grams of gold experienced a substantialsurge, rising by Rs1,887 to close at Rs215,964 within the South Asiannation.
Internationally, the price of the coveted yellow metal was observed to betrading at $2412, indicating a global trend of rising values. Spot goldmaintained its position at $2,384.19 per ounce as of 0803 GMT, remainingrelatively close to the all-time high of $2,431.29 it had attained justdays prior on Friday.
Meanwhile, U.S. gold futures experienced a slight decline, falling by 0.3%to $2,400.30.
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In addition to gold, other precious metals also experienced fluctuations intheir market values. Spot silver saw a notable increase of 1.2%, reaching$28.42 per ounce, while platinum witnessed a marginal decline of 0.3%,settling at $954.55. Palladium, on the other hand, demonstrated a positivetrajectory with a 0.6% increase, reaching $1,019.68 per ounce. Thesedynamics collectively reflect the intricate and dynamic nature of theglobal precious metals market.