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Gold price sees massive increase

Gold price sees massive increase

Hum News
Aug 31, 2023

KARACHI: The price of gold in Pakistan witnessed a massive increase of Rs3,400 per tola on Thursday according to the Pakistan Sarafa Gems and Jewellers’ Association (APSGJA).

After the increase, the price of the gold metal per tola reached Rs 239,800. The price of 10 grams stands at Rs250,590 witnessing an increase of Rs2,915.

Gold traders and investors have been advised to keep an eye on market fluctuations and make informed decisions accordingly.

Dollar rate today:

The Pakistani rupee continued its downward trend on Thursday as the US dollar appreciated by 9 paisas in the interbank market, reaching a record high of Rs305.54, according to the State Bank of Pakistan (SBP).

Stock Market bleeds:

The Pakistan Stock Exchange witnessed a major loss on Thursday, registering its fifth successive decline with a loss exceeding 1,700 points at one point, mainly due to speculations regarding an impending interest rate hike, prevailing economic ambiguity, and the relentless devaluation of the national currency.