Gold prices in Pakistan skyrocketed — after experiencing a slight plateau in the past couple of months — on Thursday. The price rose by Rs2,300/tola and Rs1,972/10 grams today.
The precious commodity had closed at Rs116,700 per tola and Rs100,051 per 10 grams on Wednesday.
Significant fluctuations in the local currency against the US dollar has aided the increase in prices of the safe-haven asset.
The international gold price rose by $29 per ounce to $1,800 underpinned by a pullback in the US Treasury yields, as investors awaited US inflation data to gauge the Federal Reserve’s path on normalising policy.
