Gold Prices Reaches Rs.141000

  • by Sharoon Jan
  • 1 month ago
  • News
  • 1
Gold Prices Reaches Rs.141000

Gold Prices Reaches Rs.141000: Gold prices in Pakistan Skyrocketed on Monday as a softer rupee and concerns regarding inflation lifted. Demand for the safe-haven asset.

Gold prices in the local billion market soared by Rs.2350 per tola and Rs.2015 per 10gram today to reach Rs.141,650 and Rs.121,442 amid continuous deprecation of the rupee against the US dollar.

The precious commodity closed at Rs.139,300 per tola and Rs.119,427 per 10grams on Saturday.

Significant fluctuations in the local currency coupled with speculations. That the rupee will further depreciate added fuel to the already surging price of the yellow metal.

Cumulatively, the prices of the yellow metal significantly gained Rs.9,300. Per tola since the start of the bullish spell (May 6).

Gold is considered a hedge against soaring inflation. And is often used as a safe store of value during times of political and economic uncertainty.

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