The gold rates in Pakistan registered another huge increase on Tuesday and closed at Rs. 234,500 per tola.
According to Data released by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) indicates that the price of 24-carat gold increased by Rs. 4,600 per tola, reaching Rs. 234,500, and the price of 10 grams also rose by Rs. 3,944, closing at Rs. 201,046.
The day before, the price of gold had gone up by Rs. 3,100 per tola, resulting in a combined increase of Rs. 7,700 per tola over the span of two days. This significant surge in the value of gold correlates with the decline of the Pakistani rupee against the US dollar.
Today, the Pakistani rupee hit a new all-time low against the US Dollar, finishing at 299.01 after a loss of Rs. 1.87 in value against the dollar.
On the global market, spot gold experienced a 0.4 percent rise, reaching $1,901.80 per ounce by 1159 GMT. Similarly, US gold futures saw a 0.4 percent increase, reaching $1,930.90.
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