After increasing by Rs 300 per tola across the country, the price of gold has reached a new high of Rs 2 lakh 61 thousand.
Similarly, the price of 10 grams of gold has increased by Rs 257 to a record Rs 2 lakh 23 thousand 765.
Surprisingly, the All Sindh Saraf and Jewelers Association issued higher rates at the local level despite the global gold prices remaining at $2,512 per ounce, while the dollar remained unchanged against the rupee. .
Expensive gold has been out of reach for many families, but given the rise in prices since January, it is of great value to investors.
On January 1, 10 grams and per tola prices were 1 lakh 88 thousand 357 and 2 lakh 19 thousand 700 rupees respectively, while the price of gold per ounce in the global market was 2,082 rupees, compared to 35 thousand rupees in the price of 10 grams of gold so far. 408 rupees and the rates of one tola have increased by 41 thousand 300 rupees.
“I think people are investing in gold because it provides a hedge against the depreciation of the rupee,” said Samiullah Tariq, head of research at Pak-Kuwait Investment Company.
Due to the policy change in February, gold imports into the country remained suspended from April to June, but imports resumed in July with 28 kg worth $2.2 million.
