KARACHI – Gold Prices On An All-Time High In Pakistan. All Sindh Saraf and Jewellers Association ASSJA, today announced that gold prices in the country have reached an all-time high of Rs100,400 per tola.
According to details, this is the first time that gold prices have gone above the Rs100,000 mark in the country. Just today, gold prices were increased by Rs700 per tola. The prices compiled by the ASSJA come with a lag of a day after changes in international prices.
In international markets, gold prices rose to a more than seven-year high on Tuesday. On rising fears of a steeper economic downturn and amid massive liquidity measures by global central banks. Spot gold gained 0.6pc to $1,724.72 per ounce by 0804 GMT, having touched its highest since Nov. 2012 at $1,726.85 earlier in the session. US gold futures rose 0.6pc to $1,772.20.
Meanwhile, the surge in local prices came despite a nationwide lockdown, which resulted in the suspension of trade. The ASSJA says they will keep their shops closed until the lockdown is over, primarily because they deal in gold and need safety.
Earlier, the Lahore Division Sarafa and Jewellers Association (LDS&JA) had announced to completely support of the government in further maintaining the lockdown. Punjab is under lockdown from two weeks due to rapidly increasing the coronavirus spread in the province.
Gold Prices On An All-Time High In Pakistan.