Islamabad: With another increase of Rs500 per tola, the price of gold in Pakistan jumped to a new all-time high on Tuesday.
According to the data released by the All Pakistan Sarafa Gems and Jewellers Association, the price of gold increased by Rs500 per tola on Monday to settle at Rs187,700. Similarly, the price of gold on a ten-gram basis also went up by Rs428 to settle at Rs160,922.
The precious metal has started 2023 on a higher note, increasing by nearly Rs4,000 per tola in the first two sessions.
In 2022, the per tola price of gold gained Rs57,900 or 45.95%, going up from Rs126,000, reaching the all-time high of Rs184,100, and closing the year at Rs183,900.
Gold is considered to be a safe haven against inflation — which reached a multi-decade high during the year.
Investors poured money into the precious yellow metal to safeguard their positions during the year as the economic crisis led by political turbulence boosted the metal’s appeal.
Similarly, silver rates also increased by Rs50 per tola to reach an all-time high of Rs2,150 in the country. The price of 10-gram silver also rose by Rs42.86 to Rs1,843.27.
