Business
Gold price in Pakistan touches historic high
Gold prices in Pakistan reached a record high of 222,7000 Pakistani rupees per tola on Wednesday, after an increase of 1,700 rupees.
Karachi: Gold prices touched the record high in Pakistan owing to continuous depreciation of rupee and International market increase on Wednesday.
Gold prices in Pakistan reached a record high of 222,700 Pakistani rupees per tola on Wednesday, after an increase of 1,700 rupees.
All Sindh Sarafa Jewellers Association (ASSJA) also confirmed Rs1,700 increase in the per tola price of Gold in the local markets.
The prices continued to go up due to the depreciation of the local currency against the US dollar and an increase in the international market price of gold to $2,015 per ounce.
Another reason for the increased demand for gold is the delay in an agreement with the International Monetary Fund (IMF). The price of silver also rose by 20 rupees per tola and 17.15 rupees per 10 grams.