Gold prices in Pakistan today hit an all-time high record as per APJMA. The yellow metal breaks the previous records by going higher prices.
(Infosette News) KARACHI: As per tola the price reached an all-time high of Rs182,700 in the local market, and gold is still in strong demand in Pakistan.
The price of gold per tola increased by Rs4,500 to settle at Rs182,700, reaching an all-time high, according to the All Pakistan Jewellers Manufacturers Association (APJMA).
In the history of Pakistan’s gold market, this is the most expensive pure 24-karat gold ever sold.
The cost of ten grams of yellow gold also jumped, going from Rs156,636 to Rs3,858. Gold prices rose by $12 to $1,810 per ounce on the world market.
Price increases of Rs21,500 per tola have occurred in Pakistan since December 1, 2022.
On the other hand, the Pakistani rupee continues to lose ground to the US dollar in the interbank market.
According to the SBP, the local currency fell by Re0.33 and ended Tuesday’s interbank market trading at 226.45 against the US dollar.
The Pakistani currency has been under pressure for a few weeks as Islamabad and the IMF discuss the ninth review of a $7 billion loan program, it is important to note here.