Gold rates in Pakistan on Thursday reached a new all-time high, going up to Rs109,100 a tola, as the world economy continues on its path towards a recession due to the coronavirus pandemic.
According to rates issued by the All Sindh Sarafa and Jewellers Association (ASSJA), prices moved up Rs800 per tola on Thursday. The price of 10 grammes of gold was also bumped up Rs686 to Rs93,536.
In addition, the international gold rate has gone up to $12 an ounce to almost $1,814.
On the other hand, the dollar fell Rs0.18 in the interbank market to clock in at Rs166.58 by the closing bell.
Last month, gold rates had shot to Rs105,100 a tola and Rs90,106 per 10 grammes before falling to Rs104,100 a tola and Rs89,506 for 10 grammes as of June 29.
The rising number of coronavirus infections and deaths have consistently fueled concerns about the prospects for an economic recovery around the world.
Year-to-date, one-tola and 10-gramme gold rates have respectively shot up as much as Rs20,150 and Rs17,276, with figures reported to be at Rs88,150 and Rs75,574, as of January 1, 2020.
On January 1, a dollar was equal to Rs154.99 as opposed to Rs167.24, as of reporting time.
By: Geo News.
Image: Visual Capitalist.
Review: FM.