Gold prices in Pakistan hit new records
The gold prices Monday continued to hit new records in Pakistani markets as a weakened economy coupled with the continuous depreciation of the Pakistan rupee added to the factor.
Considered a safe haven for investors in times of economic turmoil, the yellow metal is almost going out of reach for the majority of Pakistan masses as it saw another increase of Rs1500 per tola.
According to the All Pakistan jewellers Association, the price of 24-Karat gold reached an all-time high of Rs210500 per tola after seeing an increase of Rs1500.
Similarly, the price for 10 grams of 24-Karat gold reached Rs180,470 per tola after seeing an increase of Rs1286.
The price of 22-Karat gold, used in making the jewellery, reached Rs 192,892 per tola after seeing an increase of Rs1374.
The price of 10 grams of 22-Karat gold reached Rs164,252 after seeing an increase of Rs1179.
In the international market, the price of one ounce of gold decreased by $4 and was being traded for $1924.