KARACHI: Gold price on Wednesday witnessed a further increase of more than Rs2,000 per 10 grams, while the rate of one tola swelled to an all-time high of Rs122,200.

The All Sindh Saraf Jewellers Association quoted the price of Rs104,767 for 10 grams, up by Rs2,144 from previous trading day, while the one tola price registered a jump of Rs2,500 based on world gold price hike by $18 per ounce to $1,781.

Association’s President Haroon Rasheed Chand claimed that gold price in the country was cheaper by Rs4,000 per tola than the Middle East and regional prices keeping in view currency exchange rates. Amid a consistent drop in the value of Pakistani rupee against the US dollar and higher prices of gold around the world, the traders say, consumers pay higher rates for the yellow metal in the country.

Published in Dawn, October 21st, 2021