Gold price see steep jump in Pakistan

KARACHI: Gold prices soared by Rs1,400 per tola on Friday, reaching a new high of Rs217,700 in the local market.

The surge in the precious metal was attributed to the rising demand and the global market trends.

According to the All Sindh Saraf and Jewellers’ Association, the price of 10 grams of gold also rose by Rs1,201 to Rs186,643.

Gold prices have been on an upward trajectory since the start of the month, reflecting the uncertainty and volatility in the economic and political spheres.

Meanwhile, the US dollar wilted against Pakistani Rupee and lost a record 18 paisas value on the last business day of the current business week in the interbank market.

The new price of the American currency reached Rs 279.30 in the interbank trading against the Pakistani currency.

On the other hand, PSX 100-index gained 200 points and the benchmark reached 62614 points on Friday.