The prices of both gold and silver surged on Monday over worries about dollar unavailability and the country’s political and economic stability.
According to data shared by the All Pakistan Sarafa Gems and Jewellers Association, the prices of gold increased by Rs. 2,200 per tola and Rs. 1,886 per 10 grams to settle at Rs. 174,900 and Rs149,948, respectively.
Silver prices also registered an increase and touched a new all-time high. The prices increased to Rs. 2,020 per tola and Rs. 1,731.82 per 10 grams after an increase of Rs. 40 and Rs. 34.29, respectively.
In the international market, the price of gold registered an increase of $3 per ounce to settle at $1,796.
The unprecedented hike in gold prices in recent weeks follows the international trend but also has its roots in the visible difference between the interbank and open market exchange rates.
The unstable exchange rate has also forced investors to shift their focus towards safer assets, like gold.