- Reuters
- 5 Hours ago

Gold prices rise by Rs 5,600
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- Web Desk
- Sep 02, 2023

KARACHI: Gold prices in Pakistan rose by Rs 5,600 per tola over the end of the week, heading back toward an all-time high they hit in May, as jittery investors looked for safe-haven amid rupee’s continuous fall against US dollar.
According to rates shared by the Sarafa Markets and Local Gold Markets , the price of 24-carat gold settled at Rs242,000 per tola in the local market.
It is the highest per tola price of gold recorded in Pakistan.
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Earlier, gold prices in Pakistan hit an all-time high of Rs240,000 per tola on May 10, 2023.
“Gold prices are reaching record high because of rupee’s freefall in the market, coupled with rising international prices of the yellow metal,” Abdullah Abdul Razzak Chand, Vice President Society Jewellers Welfare Association, said.
He added that economic uncertainty in the country, high inflation, and devaluation have collectively affected gold retailers to a great extent.
