Gold prices continue record-breaking spree with another huge increase
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The gold prices continued their record-breaking spree in Pakistani markets Saturday as a weakened economy coupled with the continuous depreciation of the Pakistan rupee added to the factor, reported 24NewsHD TV channel.
Considered a safe haven for investors in times of economic turmoil, the yellow metal is almost going out of reach for the majority of Pakistan masses as it saw another huge increase of Rs6500 per tola.
According to the All Pakistan jewellers Association, the price of 24-Karat gold reached an all-time high of Rs209000 per tola after seeing an increase of Rs6500.
Similarly, the price for 10 grams of 24-Karat gold reached Rs179,184 per tola after seeing an increase of Rs5574.
The price of 22-Karat gold, used in making the jewellery, reached Rs191,518 per tola after seeing an increase of Rs5956.
The price of 10 grams of 22-Karat gold reached Rs164,252 after seeing an increase of Rs5108.
In the international market, the price of one ounce of gold decreased by $2 and was being traded for $1928.
The prices of silver in the country also reached another high as the price of 24-Karat silver reached all-time high of Rs2300 per tola after seeing an increase of Rs100.
Similarly, the price for 10 grams of 24-Karat silver reached Rs1886.14 after seeing an increase of Rs85.74.