Gold Set to Break All Records After Gaining Almost Rs. 10,000 Per Tola

The price of 24 karat gold increased by Rs. 4,600 per tola and was traded at Rs. 361,500 on Friday compared to its sale at Rs. 356,900 on last trading day, All Pakistan Sarafa Gems and Jewelers Association reported. The price of gold went up by Rs. 600 per tola on Wednesday, a day after the budget, while it posted another increase of Rs. 4,000 per tola on Thursday. Today’s increase takes the cumulative increase in price of gold to Rs. 9,200 per tola during the last three days. Today’s rate is just marginally shy of the all-time high price of Rs. 363,700 per tola registered in late April. The prices of 10 grams of 24 karat also increased by Rs.4,023 to Rs.310,007 from Rs. 305,984 and for 10 grams of 22 Karat it went up by Rs. 3,688 to Rs. 284,183 from Rs. 280,495. The rates of per tola silver also increased by Rs. 35 to Rs. 3,780 and ten-gram silver rose by Rs. 30 to close at Rs. 3,240. The price of gold in the international market went up by $46 to $3,417, whereas the prices of silver surged by $0.35 to $36.22, the Association reported.