KARACHI – Gold prices reached record high in Pakistan as local currency continued to lose ground against the US dollar coincided with increase in policy rate.
The All-Pakistan Sarafa Gems and Jewellers Association’s (APSGJA) data shows the price of per tola and 10 grams of 24 carats gold went up by Rs5,000 and Rs4,288 to settle at Rs214,500 and Rs179,612 respectively.
In the international market, the price of the precious commodity also surged by $12 dollar to close at $1982 per ounce.
Meanwhile, silver prices in the domestic market increased by Rs100 per tola to reach Rs2,450.
The Pakistani rupee depreciated by 0.78% against the US dollar in the interbank market, settling at Rs287.29 as compared to Friday’s Rs285.04.
Pakistan raises interest rate to 21pc to rein in record inflation
