Pakistan surged to Rs163,500, an all-time high, in tandem with the consistent rise in worldwide prices.
All Pakistan Sarafa Gems and Jewellers Association (APSGJA) data revealed that the gold price per tola settled at Rs163,500. The price per 10 grams increased by Rs643 to end at Rs140,175.
Given that Pakistan satisfies its demand for precious metals through imports, it is believed that the stability of the rupee versus the US dollar at a record-high level is the primary cause of the increase.
In the meantime, participants in the stock market are shifting their investments to gold because the bourse is experiencing selling pressure due to an overheated economy.
Once again, gold is drawing safe-haven investment. Analysts assert that people typically invest in gold during periods of inflation, and inflation is currently Pakistan’s greatest challenge.
