By Our Correspondent
Copyright pakobserver
KARACHI – Gold prices in Pakistan breached all previous records after registering massive increase on Tuesday amid upward trend in international market on Tuesday.
According to Sarafa Association, per tola price of 24-karat gold increased by 4,700 to reach all-time high of Rs391,000, reflecting intensifying demand in the commodity.
The price of 10-gram gold surged by Rs4,030 with new price climbing to Rs335,219 in local market.
The precious commodity also recorded significant gains in international market where per ounce rate jumped to $3,692 after an increase of $49.
New Gold Price in Pakistan Today
Gold prices in Pakistan have jumped to historic high with per tola rate standing at Rs391,000 and 10-gram Rs335,219.
A day earlier, the price of 24 karat gold remained unchanged as it was traded at Rs 386,300 per tola.
The price of 10 gram 24 karat gold also stayed firm at Rs 331,189 while 10 gram 22 karat gold was sold at existing rates of Rs 303,600.
Meanwhile, the Pakistan Stock Exchange (PSX) has recorded significant gains amid increasing investor confidence on government policies.
The KSE-100 index has gained 830.18 points to reach 156,214.68 points, reflecting an increase of 0.5%, as trading is underway at the time of reporting.
On the other hand, The Monetary Policy Committee (MPC) of the State Bank of Pakistan has decided to keep the policy rate unchanged at 11 percent.
The Committee noted that inflation remained relatively moderate in both July and August, whereas core inflation continued to decline at a slower pace. Economic activity – as captured by high frequency economic indicators, including large-scale manufacturing (LSM) – gained further momentum.
However, the near-term macroeconomic outlook has deteriorated slightly in the wake of the ongoing floods.
