The price of gold in Pakistan jumped by over Rs. 1,500 per tola for the second consecutive day on Wednesday on its way to another all-time high.
According to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) went up by Rs. 1,700 per tola to Rs. 222,700 while the price of 10 grams went up by Rs. 1,457 to Rs. 190,929.
The price of gold increased by over Rs. 10,000 per tola during March while the increase in price during April was also above Rs. 10,000 per tola.
In the international market, spot gold fell 0.06 percent to $2,014.97 per ounce by 1135 GMT today, after rising more than 1 percent a day earlier while US gold futures rose 0.1 percent to $2,025.40.
The data shared by APSGJA showed that the price of silver also increased by Rs. 20 per tola and Rs. 17.15 per 10 grams to settle at Rs. 2,750 and Rs. 2,357.68, respectively, both of them being record highs.
People can’t afford than what is the point of price increase is very strange. Majority can’t afford even at half the price.