For the first time in Pakistan’s history, the price of gold passed Rs187,000 per tola.
On Monday, the price of 24-carat gold per tola increased by Rs3,300, reaching an all-time high of Rs187,200 compared to the last trading day’s sale of Rs183,900.
According to the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold increased by Rs3,300 per tola and Rs2,829 per 10 grammes, respectively, to settle at Rs187,200 and Rs160,494.
From Rs126,000 per tola on December 31, 2021, the yellow metal has increased by Rs57,900, or 45.95 per cent .
According to the group, the price of gold in Pakistan has been “overcost” by Rs6,500 per tola when compared to pricing in Dubai. This indicates that the price of gold in Pakistan is currently higher than it is on the global market.
The discrepancy between the official price of gold and the price it is being sold for is growing. The official price in the Sarafa market, as announced by the association, is Rs187,200 per tola. But the price at which it is being sold is reportedly higher.
According to Geo, due to the rupee’s depreciation against the US dollar during the present cycle, financial experts and goldsmiths predict that the price of gold may increase to Rs200,000 per tola.
