Price of Gold in Pakistan Increases for Fourth Straight Day
On Friday, the price of gold in Pakistan increased for the fourth day in a row and reached Rs. 225,300 per tola.
The price of gold (24 carats) increased by Rs. 300 per tola to Rs. 225,300, according to data issued by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), while the price of 10 grammes increased by Rs. 257 to close at Rs. 193,158.
The price of the precious metal increased after the public holiday on Monday by Rs. 1,100 on Tuesday, Rs. 900 on Wednesday, and Rs. 1,200 per tola yesterday. With today’s rise, every tola now costs Rs. 3,500 as of Tuesday.
Gold prices may continue to rise as a result of the rupee’s ongoing devaluation versus the US dollar. The price of gold is currently substantially lower than the record high of Rs. 240,000 per tola set in May of this year.
By 1614 GMT, spot gold prices increased 0.1 percent globally to $1,890.50 per ounce, while US gold futures prices increased by 0.4 percent to $1,922.20.
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