KARACHI: Gold price in Pakistan hit a new record high on Saturday. The surge was driven by gains in the international market.
The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) reported a rise of Rs1,800 per tola, pushing the local price to Rs340,600.
The price of 10 grams of gold also increased by Rs1,543, reaching Rs292,009.
Silver prices, however, remained unchanged at Rs3,234 per tola.
This surge followed a sharp jump on Friday when gold rose by Rs10,000 per tola to Rs338,800 — then the highest ever.
In the global market, gold climbed to $3,236 per ounce on Friday, gaining $18 in a day. The APGJSA stated this includes a $20 premium.
On the currency front, the Pakistani rupee strengthened slightly against the US dollar on Friday.
The rupee appreciated by 8.98 paisa, or 0.03 percent, closing at Rs280.47 compared to Rs280.56 the previous day.
Despite this slight recovery, the rupee has lost Rs2.13, or 0.76 percent, since the current fiscal year began.
On a calendar year basis, it has weakened by Rs1.92, or 0.68 percent.
