In a leap of historic proportions on Monday, gold rates climbed to an all-time high with an increase of Rs2850 per tola. The current value of the precious metal per tola stands at Rs93350. 10 grams of gold also recorded an upsurge in price with an increase of Rs2442, the overall value of the gold per 10 gram stands at Rs80032. International markets also recorded a sizeable increase in the price of gold with an increase of 26 dollars on an ounce. The current price of gold per ounce stands at 1578 dollars.
Earlier in the day, A gauge of Asian shares was toppled from an 18-month top on Monday as heightened Middle East tensions sent investors scurrying for the safety of gold, which hit a near seven-year high while oil jumped to four-month peaks. The United States detected a heightened state of alert by Iran’s missile forces, as President Donald Trump warned the U.S. would strike back, “perhaps in a disproportionate manner,” if Iran attacked any American person or target.