Islamabad: With a huge increase of Rs2,350 per tola, the gold price in Pakistan rose to a historic high on Monday.
According to the All Sindh Sarafa Jewellers Association, the price of gold rose by Rs2,350 per tola, settling at an all-time high of Rs169,650. Similarly, the price of gold on a ten-gram basis also rose by 2,016, settling at Rs145,448.
Similarly, the price of per tola silver increased by Rs80 to settle Rs1970, whereas that of ten-gram silver increased by Rs.68.58 to reach Rs1688.95.
Despite the continuous rise, the price of gold is still trading at a less value than the international market. In the international market, the gold price fell by another $3 per ounce to settle at $1,794.
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.