Karachi: The gold rate in Pakistan is on constantly rise and investors looking to buy gold are now in trouble.
Gold rate in Pakistan increased by Rs 1,100 per tola and reached at Rs 69,600. However, gold price in Pakistan reached at Rs 59,671 after rising by Rs 943.
According to ASSJA or All Sindh Sarafa Jewellers Association, global oil prices reached at $1,344 per ounce as rates have seen a rise of $16 per ounce.
From the beginning of 2018, 10 grams and one tola rates are increased by Rs 11,500 and Rs 13,400 respectively. However, on 1st January 2018, gold rate in Pakistan was Rs 48,171 and Rs 56,200 for 10 grams and one tola respectively.
Gold price in Pakistan hit the new high since 19th April 2018. However, the US Dollar was capped on the declining US Treasury yields. Earlier, spot gold was increased by 0.2% and closed at $1,343.51 per ounce after touching the high of $1,346.73 earlier during the session.