The price of gold in Pakistan surged past the Rs. 250,000 per tola barrier on Wednesday on its way to a new all-time high.
According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) increased by Rs. 2,200 per tola to Rs. 251,900, while the price of 10 grams increased by Rs. 1,887 to Rs. 215,964.
Today’s increase is the third consecutive increase in the price of the precious metal in the local market. Gold price rose by Rs. 800 per tola on Monday before posting another increase of Rs. 2,400 per tola on Tuesday. Cumulatively, the price of gold has risen by Rs. 5,400 per tola during the week so far.
In the international market, gold prices were steady today, holding just below record levels with spot gold at $2,384.19 per ounce as of 0803 GMT, while the US gold futures were down 0.3 percent at $2,400.30.
