KARACHI: The price of gold continued its upward trend for the third consecutive day today. According to the All Pakistan Gems and Jewellers Association, the price of gold per tola has increased by Rs 2,000 today, after which it has reached a new high of Rs 350,000.
The price of 10 grams of gold has also recorded a significant increase, rising by Rs 1,715 to Rs 3,368. This increase came at a time when the country was already under severe pressure from inflation and the purchasing power of the common man was being affected day by day.
On the other hand, the price of gold has also increased globally, where gold is trading at $3,329 per ounce, up $19. Economists say global demand for gold, the depreciation of the dollar, and a safe-haven investment trend have pushed prices higher.
It should be noted that on the previous day itself, there was a big increase of Rs 8600 in the price of gold per tola, which is the highest in recent times. According to jewelers, the business is also being affected by price fluctuations. Consumers are generally reluctant to buy.
