Islamabad, Aug 23: For the fourth day in a row, the price of gold in Pakistan broke all previous records and reached a new all-time high on Friday.
The price of 24 carats of gold climbed by Rs. 200 per tola to Rs. 262,800, while the price of 10 grams jumped by Rs. 172 to Rs. 224,623, according to data released by the Karachi Sarafa Association.
After establishing records on Tuesday, Wednesday, and Thursday, the price of the precious metal has now reached an all-time high for the fourth day in a row.
The Sarafa Association stated that, after deducting Rs. 1,000 per tola from the discount given yesterday, the price of gold in the local market has been maintained at Rs. 2,000 per tola below its true cost.
By 1219 GMT, spot gold was up 0.7 percent on the foreign market to $2,500.83 per ounce, while US gold futures were up 0.8 percent to $2,536.50.
