In Karachi. In spite of the ongoing economic crisis, precious gold prices rose to a record high of Rs. 218,800 per tola on Thursday, stealing the show in the local markets.
The cost of gold per tola and per 10 kilos jumped by Rs. 150 and Rs. 130 respectively as economic unrest persisted and delayed IMF discussions encountered unexpected delays.
The price of yellow metal in the local market increased to Rs218,800 per tola and Rs187,586 per 10 grams, according to data provided by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA).
In the interbank market, the local currency declines as the price of the precious metal rises.
The price of gold has recently increased by almost 5% of its total worth. Investors’ risk aversion was on full display, as individuals tended to trust gold because it carries no risk.