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KARACHI: Gold prices in Pakistan on Tuesday registered record increase of Rs6,200 per tola.
According to data issued by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) gained Rs6,200 per tola and Rs5,316 per 10 grams to settle at Rs221,000 and Rs189,472, respectively.
A day earlier, the prices of the yellow metal increased by Rs1,600 per tola and Rs1,371 per 10 grams, respectively.
Meanwhile, the price of the yellow metal gained $10 to settle at $1,967 in the international market today.
Pakistan’s gold price has fluctuated recently due to ongoing political and economic unrest, as well as severe inflation. In these circumstances, people prefer to purchase gold as a safe investment and a hedge.
Market custom dictates that when the rupee weakens against the US dollar and commodity prices fall on the global market, local gold prices often increase.
Data shared by the association showed the price of silver remained unchanged at Rs2,650 per tola and Rs2,271.94 per 10 grams.
