Although gold prices have been steadily climbing over the past week, today’s surge marks one of the most substantial single-day increases in recent times.
The precious metal’s value rose for five consecutive days last week, resulting in a cumulative spike of Rs. 5,000 per tola.
This current gold price stands as the highest observed in over two months. Notably, the value of gold had dipped to Rs. 204,000 per tola in mid-July after reaching an all-time peak of Rs. 240,000 per tola in May.
On the global front, gold is trading near a five-month low. Spot gold remained relatively steady at $1,888.60 per ounce as of 1125 GMT, while US gold futures experienced a modest 0.1 percent increase, reaching $1,918.10.