KARACHI: Gold extended its rally towards a record high on Tuesday, after investors made a beeline for the traditional safe-haven metal on mounting fears around the inflation, with eyes on the upcoming federal budget for the next fiscal year 2022-23.
Meanwhile, worries over the continuous depreciation of the Pakistani rupee against the US dollar and further monetary policy tightening kept the price of the yellow metal near all-time highs.
According to rates issued by the All Sindh Sarafa Association, the gold price settled at Rs143,250 per tola. The price jumped by Rs1,072 per 10-gram to close at Rs122,814