Karachi May 9 2023: According to All Sindh Sarafa Jewelers Association (Pakistan), the price of gold per tola increased by PKR 3,400 per tola for 24 Karat on Tuesday (PST 19:30) to hit all-time high in the history of the country.
In International market Gold prices rose on Tuesday, buoyed by economic uncertainties including the U.S. debt ceiling stand-off as traders braced for inflation readings that could influence the Federal Reserve's interest rate strategy. Spot gold was up 0.4% to $2,028.75 per ounce by 9:55 a.m. EDT (1355 GMT) while U.S. gold futures gained 0.2% to $2,036.40.
After this increase, the price of gold per tola in the country has reached all time high level of 2 lakh 32 thousand 800. Pakistan Rupee drops 99 paisa or 0.35 percent to end trading at 284.84 in interbank against the greenback.
During the week the price of Gold increased by PKR 7,800 per tola.
The price of 24 karat 10 grams of gold trading at PKR 1 lakh 99 thousand 590, whereas that of 10 gram 22 karat went up to PKR 182,956, All Sindh Sarafa Jewellers Association reported.
Meanwhile, global gold demand fell in the first three months of 2023, the World Gold Council (WGC) said on Friday.