Gold price in Pakistan hits all-time high of Rs178,800 per tola


According to the All Sindh Sarafa Jewellers Association (ASSJA), the price of the yellow metal in the international market jumped to $1,808 after an increase of $12.

Gold prices have risen by Rs52,800 per tola and Rs45,096 per 10 grams since Jan 1 when rates stood at Rs126,200 and Rs108,196 respectively.

Junaid Samiwala, vice president of ASSJA, told that the surge in prices was because of a shortage of pure gold in the market. “Big groups are investing black money in gold for good profits.”

He urged Finance Minister Ishaq Dar to initiate a crackdown against those hoarding the yellow metal.