Gold prices drastically rise in Pakistan hitting new historic high
*KARACHI: The per tola gold rate on Thursday climbed to an all-time high of Rs160,400, showing a jump of Rs8,500. *
According to all Pakistan Jewellers Manufacturers Association (APJMA), the 10-gram rate also soared by Rs7,245 to Rs137,517.
Gold dealers said the massive depreciation in the rupee value against the dollar is one of the main reasons for pushing up the yellow metal rates. *Rupee plunges to record low*
The US dollar’s upward trajectory continued unabated on Thursday as the greenback traded at Rs239.94 against the rupee as government fails to pacify the importers over dollar inflow in the country.
The dollar continued to gain value amid political uncertainty and fate of federal government and IMF deal after the election of CM Punjab Parvez Elahi and rose by Rs3.92 in the interbank today to trade at Rs239.94.