Gold hits new record high in Pakistan

Gold prices in Pakistan soared to new highs on Friday as per tola price reached Rs 266,500, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Similarly, 10-gram gold was sold at Rs227,966 after it registered an increase of Rs2,486.

Silver prices also surged by Rs50 to settle at Rs2,950 per tola.

Globally, spot gold decreased by $8 to $2,515 per ounce, while U.S. gold futures remained relatively stable at $2,535.20.

Despite the drop in gold prices, spot silver prices edged up slightly by 0.2%.

Currency rates

Pakistani rupee (PKR) continues upward trajectory against the US dollar (USD) in the interbank market, SBP said on Friday.

The local unit (PKR) appreciated by 10 paisa against the US dollar (USD) and closed at Rs 278.16 against the previous day’s closing of Rs 278.44.

However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 279.00 and Rs 280.85 respectively.

The price of Euro increased by Rs 2.06 to close at Rs 308.52 against the last day’s closing of Rs 306.46, according to the State Bank of Pakistan (SBP).

The Japanese yen increased by 02 paisa and closed at Rs1.97, whereas an increase of Rs 2.84 was witnessed in the exchange rate of the British Pound, which traded at Rs365.77 as compared to the last day’s closing of Rs362.93.

The exchange rates of the Emirates Dirham and Saudi Riyal decreased by 07 paisa and 08 paisa to close at Rs 75.73 and Rs74.11 respectively