The price of gold in Pakistan continued to increase on Thursday, smashing all previous records to reach the highest rate in history.
According to data provided by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold per tola increased by another Rs800, settling at Rs261,800.
The price of 10 grams of 24-karat gold also saw an increase of Rs686 to stand at Rs224,451.
Internationally, however, the gold price lost $8 to settle at $2,504. The silver rates in the local market also remained stable at Rs2,950.
Also Read: Gold price in Pakistan continues upward trend
The previous all-time high rate of gold was reported on July 18, when the yellow metal experienced a massive rise after a two-day Ashura break.
On August 17, the price of gold in Pakistan witnessed a massive increase, reaching an all-time historic high. According to data provided by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold per tola increased by Rs2,500, settling at Rs260,200.
The price of 10 grams of 24-karat gold also saw a huge increase, rising by Rs2,144 to stand at Rs223,080.
Also Read: Gold price in Pakistan increases to highest in history
The previous all-time high rate of gold was reported on July 18, when the yellow metal experienced a massive rise after a two-day Ashura break.
Dealers said at the time gold had become expensive due to the possibility of the US central bank slashing interest rates, while another reason attributed to this historic rise is the influence of Donald Trump's possible victory in the US elections.
The All-Pakistan Gems and Jewellers Sarafa Association reported that the price of 24-karat gold per tola increased by Rs4,600, bringing it to a historic Rs254,000.
