KARACHI: Gold prices rose on Saturday as the local currency remained close to an all-time low, boosting its appeal as a safe haven and an inflation hedge. This put gold on track to grow for the week.
On Saturday, the price of gold in Pakistan increased by Rs1,300 per tola and Rs1,115 per 10 kilos to Rs153,000 and Rs131,173, respectively.
The price of yellow metal increased by Rs7,300 a tola throughout the course of the week that ended September 10.
As the association’s members fund their gold imports by purchasing dollars, the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) establishes local pricing based on the rupee’s parity with the dollar on the open market.
