Yellow metal price shoots up by record Rs2,700 in domestic market
With the dollar gaining lost ground, the rate of gold also saw a sharp rise in both the local and global markets. It got a boost of Rs2,700 locally at the closing of trading on Wednesday.
Internationally, the per-ounce price of gold gained a massive $27, and was available at $1,837.
Rupee loses a massive Rs4 against dollar in interbank trade
According to the rates compiled by All Sindh Sarafa and Jewelers Association, the per-tola price of 24-karat gold in Pakistan reached Rs197,100 after witnessing a bump of Rs2,700.
The rate of 10 grams of 24-karat gold increased by Rs2,315 to reach Rs168,981.
Inflation to remain up to 30% in coming months, predicts economic outlook
However, the price of silver remained stable at Rs2,080 per tola and Rs1,783 per 10 grams.
In the global market, the per-ounce rate of gold decreased by $2 and settled at $1810.