Price of Gold in Pakistan Witnesses Biggest Single-Day Increase

The price of gold in Pakistan witnessed one of the biggest single-day increases on Wednesday to reach a new 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. 9,900 per tola to Rs. 240,000 while the price of 10 grams went up by Rs. 8,487 to Rs. 205,761.

Today’s unprecedented surge in the price of gold came on the back of increased political unrest in the country after the arrest of former Prime Minister Imran Khan.

In the first two sessions of the current week, the price of gold witnessed an increase of Rs. 4,600 per tola, rising by Rs. 1,400 per tola on Monday and Rs. 3,200 per tola on Tuesday.

During the last week, the price of gold had registered an increase in all sessions except for Friday when the price declined by Rs. 300 per tola. The aggregate increase in the week came in at Rs. 6,000 per tola.

The Pakistani rupee also closed at a record low of Rs. 290.22 against the US dollar after depreciating by 1.9 percent in the inter-bank market today.

Source: Pro Pakistani

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