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KARACHI: Pakistan’s gold prices on Tuesday reached a new record high as a result of investors switching to the yellow metal amid the political unrest that followed chairman of the Pakistan Tehreek-e-Insaf (PTI) Imran Khan’s arrest.
According to data provided by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the rate of gold (24 carats) increased by Rs3,200 per tola and Rs2,744 per 10 grams to reach Rs230,100 and Rs197,274, respectively.
Meanwhile, the Pakistani rupee on Tuesday registered more losses against the US dollar, settling with a depreciation of 0.35% in the interbank
According to the State Bank of Pakistan (SBP), the local currency closed at 284.84, a decrease of Rs0.99.
Moreover, Moody’s Investor Service cautioned that Pakistan could collapse without an IMF rescue because the nation has limited financial choices beyond June.