[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]On Tuesday, the price of gold in Pakistan increased by Rs. 1,500 per tola, continuing its onslaught towards an all-time high.
All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) statistics shows that the price of gold (24 carats) increased by Rs. 1,500 per tola to Rs. 221,000 and that the price of 10 grammes increased by Rs. 1,286 to Rs. 189,472.
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On Saturday, the price of gold (24 carats) increased by Rs. 800 per tola to Rs. 219,500. During the month of April, the price of gold jumped by more than Rs. 10,000 per tola.
Following recent news that the government anticipates headline inflation (CPI) to remain high in the upcoming months, the price of gold increased. The Pakistan Bureau of Statistics (PBS) reported that the CPI-based inflation rate jumped to 36.4 percent on an annual basis in April 2023. At 36.4 percent, Pakistan’s annual inflation rate has surpassed Sri Lanka’s benchmark inflation rate, which dropped to 35.3 percent in April.
Tuesday saw a little increase in the price of gold on the world market, with spot gold up 0.2 percent to $1,986.53 per ounce at 1241 GMT and US gold futures rising 0.1 percent to $1,994.70.[/vc_column_text][/vc_column][/vc_row]
