KARACHI: Pakistan is facing the toughest economic issues, after the dollar, gold also reached a peak in history, according to data issued by the Karachi Sarafa and Jewelers Association. Yellow metal crossed the figure of Rs0.2 million on Friday.
According to data, the price of 10-gram of 24kt gold also increased by Rs6,000, reaching Rs202,500, and was traded at Rs173,610.
Meanwhile, the 10gm of 22kt aureate was recorded at Rs159,144.
On the other hand, the price of 24-karat and 10-gram silver clocked in at Rs2,200 and Rs1,886.14, respectively, as reported by the association.
Precious yellow metal in the international market decreased by $6 and was traded at $1,936, and the silver rate stood at $23.74, it added.
ASSJA President Haji Haroon Rasheed Chand said speculation has been thriving in the gold market but claimed that “investors are on the sidelines as they look more interested in dollars.”
He said jewelry sales have been negligible as soaring rates do not allow many families to think about yellow metal buying.
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