KARACHI: The price of gold in Pakistan increased by Rs100 per tola to Rs126,100 on Thursday.
In the international market, the price of the precious metal recorded an increase of $7 per ounce, according to the rates compiled by the All Sindh Sarrafa and Jewellers Association. An ounce of 24-k gold is now selling at $1,803.
A day earlier, it recorded a drop of $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.
