KARACHI – Precious gold continued to steal the limelight in the local markets, with prices hitting a record high of Rs Rs218,800 per tola on Thursday amid an ongoing economic meltdown.
The prices of per tola and per 10 grams of gold increased by Rs150 and Rs130 as economic turmoil continued and halted talks with the IMF faced unusual delays.
Data shared by All Pakistan Sarafa Gems and Jewellers Association (APSGJA) suggests that the price of yellow metal in the local market rose to Rs218,800 per tola and Rs187,586 per 10 grams.
As the precious metal moves upward, the local currency decreases in the interbank market.
In recent times, the gold price gained nearly more than 5 percent of its total value. The risk aversion of investors was on display as people prefer to trust gold as it comes with low risk.
