Gold hits all-time high of Rs113,500 per tola
Karachi: Gold prices hit an all-time high in Pakistan Tuesday with a tola reaching Rs113,500. On Tuesday, gold prices went up by Rs2,250. The precious metal has recorded 29% increase in its value since January 1, when a tola was priced at Rs88,150.
The prices of gold in Pakistan are largely determined by its international prices, which rose by $12 to reach $1825 per ounce – the highest in eight years.
Earlier on July 20, gold price had hit an all-time high of Rs110,900 per tola in the domestic market. Per tola and 10 gram price of yellow metal had risen by Rs300 and Rs257 to reach Rs110,900 and Rs95,078, respectively.
According to Reuters, gold prices in international market had inched up that day as escalating numbers of coronavirus cases around the world had raised concerns over the pace of economic recovery and fuelled expectations of more stimulus measures.