The price of gold in Pakistan surged again on Tuesday on its way to another all-time high after an increase of Rs. 600 per tola.
According to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) went up by Rs, 600 per tola to Rs. 218,300 while the price of 10 grams went up by Rs. 514 to Rs. 187,157.
The price of gold had risen significantly a day earlier, surging by over Rs. 3,000 per tola to Rs. 217,700. The previous week also saw a major increase in the price of gold, the increase for the previous week stood at more than Rs. 6,000 per tola.
The Pakistani rupee (PKR) also plunged to a fresh all-time low against the US Dollar today and closed at 288.43. With little progress on a staff-level agreement with the International Monetary Fund (IMF), the rupee’s woes have continued in recent days barring a slight reprieve last week when news emerged of Saudi assurance of financial assistance to Pakistan.
Gold prices also increased in the international market today, with spot gold going up by 0.7 percent to $2,004.10 per ounce by 1052 GMT while US gold futures gained 0.8 percent to $2,018.80.
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