Gold prices soar after US midterms shock for republicans

KARACHI (News Desk): The effects of setbacks faced by the Republican Party in the US midterm elections revived global bullion markets, with international gold prices recovering to the $4,000 per ounce level.

According to All Pakistan Sarafa Gems and Jewelers Association, gold rose by $139 per ounce in the international market to reach $4,035 per ounce.

The surge in the international market triggered a sharp increase in local prices.

In Pakistan, the price of gold per tola surged by Rs. 13,900 to Rs. 426,036, while the price of 10 grams increased by Rs. 11,917 to Rs. 365,257.

Silver also followed the upward trend, with per tola silver price rising by Rs. 295 to Rs. 5,663.