Gold extends gains in line with international market

Gold price gains Rs100 in Pakistan

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On Thursday, the price of gold in Pakistan rose by 100 rupees per Torah to 126,100 rupees.

According to the exchange rate compiled by All Sindh Sarrafa and the Jewelers Association, in the international market, the price of precious metals has risen by $7 per ounce. One ounce of 24-k gold is now priced at $1,803.

A day ago, it recorded a decline of US$21 per ounce.

Gold is considered to be the “world’s recognized safe-haven” but it has been extremely volatile since the pandemic started and the trend became more apparent with the spread of COVID variants.

Gold reached an all-time high of $2,074 an ounce in August 2020 and a five-month high of $1,874 on November 16. Gold jumped to the record high of Rs132,000 per tola on October 26 in Pakistan.

In the domestic market, the price per 10 grams of gold decreased by Rs85 to Rs108,110.

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