Uncertain political situation is said to be the motive for increase in gold price
Karachi: Gold price continued to soar in the local bullion markets of Pakistan on Wednesday amid political worries and weakening of the Pakistani rupee.
The price of the precious metal jumped by Rs1,800 per tola and Rs1,542 per 10 grams to settle at Rs150,200 and Rs128,772 respectively, data released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) showed.
Cumulatively, the yellow metal has gained Rs3,800 per tola during the last two sessions.
In the international market, the price of the yellow metal surged by $24 per ounce settling at $1,668 as the dollar and bond yields weakened amid expectations that the US Federal Reserve could slow its rapid pace of interest rate hikes.
Several US warplanes crashed, crew survived: Kuwait defence ministry
- a day ago
Pakistan Army destroys ammunition depot of Fitna-al-Khwarij, Afghan Taliban in Khost
- a day ago
Pakistan won’t allow use of neighboring territory to destabilize peace: President
- 19 hours ago
Meet the toymaker who helped take down Trump’s tariffs
- 9 hours ago
Hockey World Cup Qualifier: Pakistan beat Malaysia to reach semi-finals
- 18 hours ago
Bloodbath at PSX as KSE-100 plummets over record 16,000 points
- a day ago
Ultrahuman’s new flagship smart ring has a 15-day battery life
- 2 hours ago
Pakistan's Cyber Force launches retaliatory attack on India with slogans of Pakistan Zindabad
- a day ago
Trump’s Iran war is uniting a strange new anti-war alliance
- 9 hours ago
How Finland defeated fascism
- a day ago
Pentagon says Iran will not be ‘endless war’
- 20 hours ago
US Marines fired on protesters storming consulate in Karachi, officials say: Reuters
- 12 minutes ago
