Islamabad: For the third consecutive session, the price of per tola gold in Pakistan increased on Wednesday to set a new all-time value.
According to the data released by the All Pakistan Sarafa Gems and Jewellers Association, the price of gold increased by Rs900 per tola on Monday to settle at Rs188,600. Similarly, the price of gold on a ten-gram basis also went up by Rs772 to settle at Rs161,694.
The precious metal has started 2023 on a higher note, increasing by nearly Rs5,000 per tola in the first three 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.
Meanwhile, the price of silver per tola remained flat at Rs2,150. Likewise, the 10-gram silver price was almost unchanged at Rs1,843.27.