The price of gold in Pakistan hit an all time this year reaching to Rs. 51,500 per tola on Monday. The price has increased by Rs. 550 per tola in comparison to the July 5th price.
The price of 10 grams of gold increased by Rs. 441 reaching a price of Rs. 44.142; the price is based on the per ounce price of $1,359 according to All-Sindh Saraf Association- the price was $1,348 on July 4th 2016.
Since January 2016 till now, one tola priced gold has surged by Rs. 7,200 while the price of 10 grams soared by Rs. 6,171. The price of gold globally has increased by $297 per ounce. 10 grams of gold was priced at Rs. 37,971 as of the first week of January while price of one tola gold was Rs. 44,300 based on the world price of $1,062 per ounce.
Initially, the price of gold fell to $1,336/oz on Friday as per KASB Research. Gold, however, strongly rallied as individuals remained concerned that the US Federal Reserve will not be able to increase the rate of interest for some time.
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