Wednesday April 06, 2022

Gold Price Increases in Pakistan

KARACHI: Gold shines once again, as it hit an all-time high of Rs132,800 per tola (11.66 grams) in Pakistan on Wednesday after investors relocated the capital from deflating local currency to the inflating precious metal.

The gain in gold was seen as the commodity turned positive because risk-off sentiment gripped financial markets amid the possibility of more Western sanctions on Russia, although aggressive US rate hike bets kept bullion near a one-week low in the world market during the day.

It maintained an uptrend for the past two successive working days in the domestic market.

With a fresh increase of Rs800 per tola on Wednesday, the commodity cumulatively rose by Rs1,600 in the two days (Tuesday-Wednesday) to Rs132,800 per tola.

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