Gold Rate Increases as Price Inches Towards Record High Again

The price of 24 karat gold witnessed an increase of Rs. 800 per tola on Wednesday and was sold at Rs. 356,900 against its sale at Rs. 356,100 on the previous trading day, All Pakistan Sarafa Gems and Jewelers Association reported. The price of gold increased by Rs. 7,800 per tola on Monday before posting another increase of Rs. 6,100 per tola on Tuesday. Today’s increase takes the three-day surge in the price of gold to Rs. 14,700 per tola. The recent increase in price has once again take gold within touching distance of the record high price of Rs. 363,700 per tola. The prices of 10 grams of 24 karat also increased by Rs. 684 to Rs. 305,984 from Rs. 305,300 whereas the price of 10 grams of 22 Karat increased by Rs. 627 to Rs. 280,495 from Rs. 279,868. The rates of per tola silver and ten-gram silver remained unchanged and closed at Rs. 3,482 and Rs. 2,985 respectively. The price of gold in the international market increased by $8 to $3,385 from $3,377 whereas that of silver remained stagnant to close at $33.00, the Association reported.