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Gold price increases by Rs2,200 per tola in Pakistan

KARACHI – The gold price in Pakistan surged by Rs2,200 per tola to reach Rs207,200 on Thursday.

As per the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 10 grams of 24 carats gold increased by Rs1,887 to settle at Rs177,641.

 Yesterday, the South Asian country registered Rs3,500 per tola increase to close at Rs205,000. On Tuesday, the yellow metal witnessed highest single-day drop of Rs9,000 per tola as the rupee slightly recovered against the US dollar.

The surge in the gold rate comes as the demand increased after the investors moved towards the yellow metal as Pakistan’s headline inflation accelerated to a record high level in January amid food supply constraints and a significant surge in the price of petroleum products.

In the international market, the commodity witnessed an upward trend as its price surged by $33 to reach $1955 per ounce.

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