Islamabad: The demand for gold in Pakistan continues unabetted, with the price of the precious commodity rising to a new all-time high on Wednesday.
Data released by the All Sindh Sarafa Jewellers Association showed that the price of per tola gold increased by Rs250 to settle at Rs164,150. Similarly, the price on a ten-gram basis also rose by Rs214, settling at Rs140,732.
The increase in gold prices owing to internationally induced inflation has not only impacted the sale and purchase of gold-made jewellery but also compelled people to opt for other modes of investments.
Pakistan fulfils its gold demand by importing the precious commodity. Therefore, the rise and fall in the price depend upon many factors, including prices in the international market, the PKR to the USD exchange rate, and the demand and supply in domestic markets.
Similarly, silver prices in the domestic market surged by Rs80 per tola and Rs68.59 per 10 grams to settle at Rs1,860 and Rs1,594.65.
