Most of the country’s currency value depends upon the amount of gold they have in their banks.
According to statistics released by the Karachi Sarafa Association, the price of 24-carat gold climbed by Rs. 1,100 per tola to Rs. 242,000, while the price of 10 Grams jumped by Rs. 943 to Rs. 207,476.
The price of gold fluctuates due to the uncertain situation in the Middle East. The value of gold depends upon multiple factors such as the security and peace situation around the world
Last week, the price of the precious metal fell by Rs. 7,800 per tola on the local market, closing at Rs. 244,400. The price drop was caused by lowering worldwide prices as tensions in the Middle East eased.
Gold prices dipped in the international market today, with spot gold down 0.3 percent to $2,328.20 per ounce as of 0112 GMT, and US gold futures down 0.3 percent to $2,339.70.
Also Read: Is May 1 Going to Be a Labor Day Public Holiday in Pakistan?