KARACHI – The gold price in Pakistan surged by Rs1,300 per tola to reach Rs208,500 on Friday as rupee hit the record low of Rs276.58 against the US dollar in the interbank market.
As per the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 10 grams of 24 carats gold increased by Rs1,114 to settle at Rs178,755.
Yesterday, the South Asian country registered Rs2,200 per tola increase to close at Rs207,200.
The surge in the gold rate comes as the demand increased after the investors moved towards the yellow metal as Pakistan’s headline inflation accelerated to a record high level in January amid food supply constraints and a significant surge in the price of petroleum products.
In the international market, the commodity witnessed downward trend as its price fell by $44 to reach $1911 per ounce.
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