Price of Gold Rises by More Than 6,000 Rupees Per Tola in Pakistan
On Tuesday, the price of gold in Pakistan increased by more than 6,000 rupees per tola, breaking the Rs. 220,000 mark.
The price of gold (24 carats) increased by Rs. 6,200 per tola to Rs. 221,000, and the price of 10 grams increased by Rs. 5,316 to close at Rs. 189,472, according to data released by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA).
It is important to note that on July 12, the price of gold dropped to Rs. 204,000 per tola. But in less than a week, it has increased by Rs. 17,000 per tola. The cost of gold increased by Rs. 5,000 per tola over the past week. On Monday, the current week also began with a rise of Rs. 1,600 per tola.
Despite the recent price increase, the precious metal’s cost is still significantly below the record high of Rs. 240,000 per tola set in May.
By 0846 GMT, spot gold had increased 0.4 percent to $1,961.67 an ounce on the global market, while US gold futures had increased 0.5 percent to $1,965.40.
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