Pakistan Gold prices set new record
After a day off, gold prices in Pakistan continued to soar and set new highs as the per-tola price surpassed the crucial Rs180,000 mark for the first time ever.
According to figures supplied by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold increased byRs1,850 per tola and Rs1,586 per 10 kilos to settle at record highs of Rs180,650 and Rs154,878, respectively.
Uncertainty was cited by the association as the rationale for its unexpected decision to delay the release of the gold rates a day early.
The “uncertain market condition,” according to APSGJA President Haji Haroon Rasheed Chand, is the reason the bullion rates were halted.
Since December1, gold prices have increased by Rs19,450, or 12.06 percent, per tola, raising questions about whether the recent price increases are sustainable or represent an unsustainable bubble.
Netizens worry as Pakistan Gold-prices set new record.
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