Gold price soars to record high of Rs225,300 per tola
Business
Gold price soars to record high of Rs225,300 per tola in Pakistan
KARACHI (Dunya News) – The gold price shattered all previous records in Pakistan, reaching Rs225,300 per tola on Thursday.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the rate of 24 carat gold increased by Rs2,600 per tola, and Rs2,229 per 10 grams to reach Rs225,300 and Rs193,158, respectively.
The gold price in the international market also increased by $29 to settle at $2,044 per ounce. The raise in international gold rates, coupled with Pakistan’s ongoing economic turmoil, led to the yellow metal’s value reaching record high in the country.
Another factor for the increased gold demand is the delay in an agreement with the International Monetary Fund (IMF) for a much-needed economic bailout.
The rate of silver also increased by Rs120 per tola and Rs102.88 per 10 grams to settle at Rs2,870 and Rs2,357.68, respectively.
On Thursday, the Pakistani rupee gained Re0.06 to close at Rs283.82 per dollar in the interbank market.
