As of this morning, the price of a sovereign (approximately 8 grams) of 22-carat gold in the local market has surged to Rs. 242,000, rising from Rs. 238,300 recorded yesterday. Meanwhile, 24-carat gold has climbed to Rs. 262,000 per sovereign, up from Rs. 259,000 the previous day.
Market analysts attribute the rise to global economic uncertainties and increased demand for gold as a safe-haven asset. Local jewellers and investors are closely monitoring the situation, with expectations of continued volatility in the coming days.
