Gold price leapfrogs to historic Rs240,000 per tola amid turmoil
Business
After Rs 9,900 surge per tola price reaches Rs 240,000
(Web Desk) - Gold saw an unprecedented increase in the price with an almost Rs10,000 jump in per tola rate on Wednesday.
The precious metal hit the all-time high price a day after Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan's arrest. After Rs9,900 surge, the price of 24-karat gold on Wednesday reached Rs240,000 per tola.
The gold traders in Karachi and other parts of the country said the market saw a swell in gold customers as Mr Khan's arrest created an atmosphere of unrest and uncertainty that resulted in the spike. They said it would create difficulties for common people.
It is to be recalled that after PTI chairman Imran Khan was taken into custody from the Islamabad High Court (IHC) on Tuesday, the PTI supporters condemned the action and held protests across the country.
There have been clashes between the protesters and the law-enforcement officials since yesterday. Below are some of the images showcasing the post-arrest violence that occurred in several parts of the country.
An accountability court on Wednesday allowed the physical remand of PTI chief Imran Khan to NAB for eight days.Moreover, the Pakistan Stock Exchange (PSX) had also landed in negative zone as the arrest of PTI chairman and former prime minister Imran Khan pushed the benchmark KSE-100 index to drop over 450 points during intra-day trading on Tuesday.
According to market experts, the stocks plunged after investors came to know that Imran Khan had been taken into custody by law enforcement agencies officials at the IHC.
