Islamabad: The price of gold in Pakistan made a big jump on Wednesday to cross the Rs153,000 per tola threshold.
According to the All Sindh Sarafa Jewellers Association, the price of gold on Wednesday increased by Rs1200 per tola and Rs1030 per 10 grams to settle at Rs153,500 and Rs131,602, respectively.
During the last three sessions (Monday-Wednesday), the price of the precious commodity increased by Rs2,300 per tola.
It is also important to note that Pakistan fulfills its gold demand by importing the precious commodity. Therefore, the rise and fall in the price depend upon many factors, like prices in the international market, the PKR to the USD exchange rate, and the demand and supply in domestic markets.
Similarly, the price of gold in the international market also increased by $36 to settle at $1,672.
Gold price reaches Rs 162,500