On Thursday, Pakistani gold prices rose to an all-time high as the Pakistani Rupee fell by Rs. 24.54 versus the US Dollar.
Gold (24 carats) is now priced at Rs. 195,500 per tola, according to data provided by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA). This increase was based on a 4.900 rupee increase in price per tola. Similar to that, the cost of 10 grammes of gold rose by Rs. 4,201 to reach Rs. 167,610.
At 18:20 PM, spot gold prices on the international markets were up 0.2 percent to $1,936.72 per ounce after earlier reaching an intraday high of $1,951. As a result of sharp currency changes in the majority of emerging countries, gold futures are poised for more gains when markets begin on Friday. In the next days, rates are anticipated to increase to the $2,000 mark as investors flock to rare metal investments in search of longer-term rewards that are more substantial.
Gold is regarded as a buffer against economic variables like currency and inflation despite high rates and inflationary increases on a daily basis, and following today’s historic PKR plunge, the rare metal is the best investment worth holding.
