Gold rises to Rs124,000 per tola

The price of gold jumped Rs2,000 in Pakistan, with the price/tola reaching Rs124,200 on Thursday. The rise in Pakistan’s gold prices is in line with an increase in international prices.

The price rose Rs1,714/ 10gms to reach Rs106,481 on Thursday. Gold has cumulatively gained Rs6,200 in the last four days.

While the increase in prices is inviting attention from investors, it is negatively affecting the local demand, a gold dealer was quoted by as saying.

"We do see some seasonal demand because of the wedding season but overall, lack of purchasing power has disrupted the local demand for gold," he added.