Gold prices in both global and local markets remained stable on Friday, although per tola rates continued to hover at record highs. In the international bullion market, the price of gold per ounce held steady at $3,865 with no change. Similarly, in local bullion markets, the price of gold per tola stayed unchanged at Rs407,778. In line with the global movement, domestic prices followed suit, with gold per 10 grams remaining stable at Rs349,603. Meanwhile, spot gold inched up 0.03% to $3,857.25 per ounce after hitting a record high of $3,896.49 on Thursday. The bullion has gained 2.6% so far this week. Among other precious metals, spot silver climbed 0.6% to $47.24 per ounce, platinum rose 0.5% to $1,576.25, and palladium gained 1.4% to $1,258. 25.
Karachi is witnessing an unusual surge in chicken prices as Eidul Azha approaches, causing concerns among consumers and industry experts. Typically, poultry rates decline during this festive season due to reduced demand for chicken meat. However, this year has brought an unexpected reversal of the trend, with prices hitting record highs. The price hike has been attributed to various factors, including feed shortages, import restrictions, and limited access to essential poultry feed ingredients. Unprecedented Price Peaks Chaudhry Mohammad Ashraf, the central chairman of the Pakistan Poultry Association (PPA), expressed his astonishment at the current situation. With over three decades of experience, he claimed that this was the first time chicken rates had soared to such record peaks before Eidul Azha. Live poultry prices have skyrocketed to Rs560 per kilogram, while clean meat is being sold at Rs820-850 per kilogram. Moreover, boneless chicken prices have surged to Rs1,400 per ki...