AIRLINK 193.75 Increased By ▲ 1.91 (1%)
BOP 10.01 Increased By ▲ 0.14 (1.42%)
CNERGY 7.65 Decreased By ▼ -0.02 (-0.26%)
FCCL 38.18 Increased By ▲ 0.32 (0.85%)
FFL 15.77 Increased By ▲ 0.01 (0.06%)
FLYNG 25.58 Increased By ▲ 0.27 (1.07%)
HUBC 130.50 Increased By ▲ 0.33 (0.25%)
HUMNL 13.90 Increased By ▲ 0.31 (2.28%)
KEL 4.70 Increased By ▲ 0.03 (0.64%)
KOSM 6.22 Increased By ▲ 0.01 (0.16%)
MLCF 44.85 Increased By ▲ 0.56 (1.26%)
OGDC 209.36 Increased By ▲ 2.49 (1.2%)
PACE 6.62 Increased By ▲ 0.06 (0.91%)
PAEL 40.97 Increased By ▲ 0.42 (1.04%)
PIAHCLA 17.80 Increased By ▲ 0.21 (1.19%)
PIBTL 8.12 Increased By ▲ 0.05 (0.62%)
POWER 9.11 Decreased By ▼ -0.13 (-1.41%)
PPL 181.00 Increased By ▲ 2.44 (1.37%)
PRL 39.30 Increased By ▲ 0.22 (0.56%)
PTC 24.35 Increased By ▲ 0.21 (0.87%)
SEARL 109.10 Increased By ▲ 1.25 (1.16%)
SILK 0.97 No Change ▼ 0.00 (0%)
SSGC 39.13 Increased By ▲ 0.02 (0.05%)
SYM 19.30 Increased By ▲ 0.18 (0.94%)
TELE 8.69 Increased By ▲ 0.09 (1.05%)
TPLP 12.36 Decreased By ▼ -0.01 (-0.08%)
TRG 65.50 Decreased By ▼ -0.51 (-0.77%)
WAVESAPP 12.51 Decreased By ▼ -0.27 (-2.11%)
WTL 1.69 Decreased By ▼ -0.01 (-0.59%)
YOUW 3.95 No Change ▼ 0.00 (0%)
BR100 11,984 Increased By 53.7 (0.45%)
BR30 35,919 Increased By 259.6 (0.73%)
KSE100 113,936 Increased By 729.2 (0.64%)
KSE30 35,769 Increased By 203.8 (0.57%)

The price of gold witnessed a sharp increase on Thursday as it rose by Rs4,900 per tola to an all-time high of Rs195,500, according to All Sindh Saraf and Jewellers Association.

The spike was led by a sharp depreciation in value of the rupee against the US dollar that fell 9.6% or Rs24.54 in a single day to close at 255.43.

On Wednesday, the rate of the yellow metal had closed at Rs190,600 per tola.

Similarly, the price of 10 grams of 24 karat gold also increased by Rs4,201 on Thursday to Rs167,610 against, whereas that of 10 grams of 22 karat increased to Rs153,642 from Rs149,791.

The precious metal is considered a safe-haven for investment in times of crisis such as the ongoing economic distress in Pakistan.

Over the past one week, the per tola price of gold has recorded an increase of Rs10,200.

Pakistan remains a net importer of gold therefore any change in the exchange rate impacts the value of the yellow metal.

Comments

Comments are closed.