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A tola of gold returns Rs23,000 profit since January

The precious metal hit a new high at Rs111,250 Monday

SAMAA | - Posted: Jul 20, 2020 | Last Updated: 1 year ago
SAMAA |
Posted: Jul 20, 2020 | Last Updated: 1 year ago

Photo: AFP FILE

The price of a tola of gold increased by Rs1,600 on Monday to reach an all-time high at Rs111,250, according to All Sindh Saraf Jewelers Association.

Investors have earned Rs23,100 per tola as the price of the precious metal has increased by 26% since January 1.

An investor, who may have invested in gold on January 1, would have bought a tola for Rs88,110.

The prices of gold in Pakistan are largely dictated by its international prices. On Monday, gold prices went up by $7 per ounce to settle at $1813 in the international market.

Experts believe that the upward trend in gold prices is due to the coronavirus pandemic. People invest in gold during uncertain times considering it a safe bet.

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One Comment

  1. Mubashir Ahmed Khan  July 22, 2020 4:58 pm/ Reply

    Rediculous

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