Islamabad: The price of gold rose to a new all-time high in Pakistan on Friday after going up by Rs1,500 per tola.
According to the data released by the All Pakistan Sarafa Gems and Jewellers Association, the price of gold increased by Rs1,500 per tola to settle at Rs184,100. Similarly, the price of gold on a ten-gram basis also rose by Rs1,286 to settle at Rs157,836.
Since December 1, the price has risen by nearly Rs22,900 per tola.
During this period, the precious commodity established a winning streak of thirteen sessions.
According to market watchers, the price of gold is currently “overcost” in Pakistan, which means that, at present, the Pakistani gold market is more expensive than the world market.
Similarly, the price of per tola silver increased by Rs 20 to Rs 2,070, and that of 10 grams by Rs 17.16 to Rs 1,774.70.
Gold imports up by 26.43% in 5 months
The gold imports increased by 26.43% during the first five months of the current fiscal year compared to the corresponding period of last year, the Pakistan Bureau of Statistics (PBS) has reported.
The gold imports from July-November (2022-23) were recorded at $11.172 million compared to the imports of $8.837 million from July-November (2021-22), according to the data.
In terms of quantity, Pakistan imported 193 kg of gold during the months under review compared to the imports of 148 kg last year, showing a growth of 30.41%.