Islamabad: Nearing its all-time high value, the price of gold in Pakistan increased by Rs1,200 per tola and is being sold at Rs187,300 on Monday.
According to the data released by the All Pakistan Sarafa Gems and Jewellers Association, the price of gold went up by Rs1,200 per tola on Saturday to settle at Rs18,300. Similarly, the price of gold on a ten-gram basis also increased by Rs1,029 to settle at Rs160,580.
Meanwhile, the prices of one tola and 10-gram silver witnessed no change and stood at Rs2,100 and Rs1,800.41, respectively.
During last week, the price of per tola gold declined by nearly Rs5,500 before going up again by Rs7,300 per tola in the last three sessions.
Gold is considered to be a safe haven against inflation — which has climbed to a multi-decade high both on a weekly and monthly basis.
Investors are pouring money into the precious yellow metal to safeguard their positions as the economic crisis led by political turbulence boosted the metal’s appeal.
