Gold surges to Rs249,700 per tola amid Iran-Israel conflict

MG News | April 16, 2024 at 01:43 PM GMT+05:00

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April 16, 2024 (MLN): Gold price in Pakistan continued its record rally, with 24-karat gold gaining another Rs2,400 to Rs249,700 per tola on Tuesday.

The Karachi Sarafa Association further reported that the price of 24-karat gold reached Rs214,077 per 10-gram, up Rs2,057 DoD.

Similarly, the price of 22-karat gold was quoted higher at Rs196,238 per 10-gram.

On the other hand, silver prices remained unchanged, with 24-karat silver being sold at Rs2,650 per tola and Rs2,271.94 per 10-gram.

On the global front, international spot gold traded near $2,371.56 an ounce, after gaining 1.66% yesterday.

Traders are closely monitoring developments surrounding the Middle East conflict, that may raise appeal for safe heaven assets.

To note, Iran launched attack drones and missiles against Israel on Saturday, taking the conflict in the region into a perilous new phase.

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