Gold Price Keeps Record-Breaking Run Going to Hit Rs. 218,800 Per Tola

The price of gold in Pakistan kept its record-breaking run going on Thursday, rising by Rs. 150 per tola to surge to another all-time high. According to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) went up by Rs. 150 per tola to Rs. 218,800 while the price of 10 grams went up by Rs. 129 to Rs. 187,586. The price of gold in Pakistan has more than doubled in less than two years. A look at international and local trends also shows that during the last five years, there has been a much higher increase in the price of gold domestically than in the international market. The per tola price of gold in Pakistan was just above Rs. 56,000 at the start of 2018, which crossed the Rs. 200,000 per tola in January 2023. In the international market, gold prices rose on Thursday with spot gold up 0.4 percent at $1,996.43 an ounce by 1210 GMT and US gold futures up 0.5 percent to $2,006.10.