Gold continues to shine, hits all-time high of Rs210,500 in Pakistan

KARACHI – The price of gold soared to an all-time high of Rs210,500 on Monday as experts believe the rally has further to go in the coming days.

The price of gold surpassed the Rs200,000 mark per told for the first time in history amid local currency depreciation as the economic crisis worsened.

According to All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24 carats of gold witnessed an increase of Rs1,500 to reach Rs210,500 while the price of 10 grams settled at Rs180,470 after a surge of Rs1,285.

Meanwhile, the Pakistani rupee continued its losing streak against the US dollar, it plummeted to Rs262.60 against the dollar in the interbank market today on Monday, sliding around Rs7 on the first day of the week.