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Articles for tag: gold, gold price, high, Latest, ME crisis, onemonth, Soars

November 5, 2023

News Desk

Gold soars to one-month high

KARACHI: As tensions escalate in the Middle East, rising gold prices are capturing the attention of investors worried about the war’s knock-on effects on global markets. Many choose to park their savings in the safe haven of gold to protect against currency depreciation in their respective countries. In Pakistan, the price of the precious metal hit a one-month high of Rs 214,600 per tola (11.66 grams) on Saturday, in line with the global trend. The continued depreciation of the rupee also contributed to the rise in the value of gold. Gold has seen a remarkable comeback, rising nearly 9% or

Gold price reaches 112,000 PKR per tola

The gold price in Pakistan rebounded on Tuesday after showing a declining trend for eight consecutive days. It recorded an increase of Rs800 to reach Rs112,100 per tola, according to rates compiled by All Sindh Saraf and Jewelers Association. The price of gold had been falling for a while and it had recently dropped to a two-month low. Adnan Agar, the director of AA Commodities, had already predicted the increase in gold price. The factors that tend to swell gold and other metals were still intact, he believed. The international price of gold appreciated to $1,887 per ounce by the

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