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Gold breaking its highest-price ceiling every day

A tola gets Rs1,100 more expensive

SAMAA | - Posted: Jun 23, 2020 | Last Updated: 12 months ago
SAMAA |
Posted: Jun 23, 2020 | Last Updated: 12 months ago

Photo: AFP

The gold prices are on the rise once again, hitting a new high almost every other day. A tola of gold now costs Rs103,100, the highest rate in the country’s history, according to the All Sindh Saraf and Jewellers Association (ASSJA).

The previous high was Rs102,000 on Monday when prices rose by Rs1,300, taking the total increase in just two days of the week to Rs2,400. The precious metal also recorded its highest on Friday at Rs100,700.

Bullion prices in Pakistan surpassed Rs100,000 per tola on April 14 for the first time but later fell below that level. Last week, it breached that threshold again and the surge continues this week.

The prices compiled by the ASSJA come with a lag of a day after changes in international prices. The price increase is due to an increase in its international prices.

Gold futures are trading at $1,770 per ounce, up by $44 compared to the price five days ago.

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