Thursday April 07, 2022

Gold Price Increases By Rs1,500 Per Tola

KARACHI: The gold price in Pakistan soared to an all-time high at Rs134,300 per tola on Thursday as currency devaluation eclipsed pressure from riskier assets to safe-haven assets.

According to the All Sindh Saraf and Jewellers Association (ASSJA), with a fresh increase of Rs1,500 per tola and Rs1,286 per 10 gram, the gold price settled at Rs134,300 and Rs115,141, respectively.

Investors buy gold as a hedge against the devaluation of their respective local currencies during inflationary days. 

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