Gold rates shot up to Rs 132, 000 per tola, the All Sindh Sarafa and Jewellers Association (ASSJA) said Friday, with prices around the world surging to their historic high as economic woes and resurgence in COVID-19 cases kept investors on edge.
According to All Sindh Sarafa and Jewellers Association, the latest uptrend in the gold price in Pakistan was worth Rs2, 500 per tola, compared to an increase of Rs800 a day prior. Similarly, the gold rate for 10 grammes climbed Rs2, 144 to reach Rs113, 169.
On the other hand, gold prices in the international markets went up to $4 an ounce to $2,054.
On the other hand, gold prices in the international markets went up $4 an ounce to $2,054.
Analysts across the world continue predicting more gains in gold given the speed at which the yellow metal broke through $2,000-an-ounce mark a couple of days ago, leaving some in the market fearing a correction as the coronavirus crisis spurs investors to buying into bullion’s relative safety.
Gold prices on Tuesday hit $2,000 an ounce for the first time, the latest surge in a commodity seen as a refuge during economic uncertainty.
The precious metal hit the symbolically important benchmark near 4:15pm GMT before retreating somewhat then crossing the line again about 30 minutes later.
