Gold price soars again, increases by Rs600 per tola

By: News Desk
Published: 07:32 PM, 7 Mar, 2022
Gold price soars again, increases by Rs600 per tola
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Due to ongoing geopolitical crises, the price of glittery metal on Monday increased by Rs600 per tola to reach Rs130,000, reported 24NewsHD TV channel.

According to Sindh Sarafa Bazaar Association, the price of 10-gram gold has been increased by Rs515 to reach Rs111,454.

In the international market, gold price per ounce increased by $17 and reached $1991.

On the other hand, gold rose to more than $2,000 in Asian trade on Monday morning as investors fled to the safe-haven commodity over fears about the impact of the Ukraine war on the global economy.

The precious metal hit a peak of $2,000.86 an ounce, its highest level since September 2020.

Traders have been sent running to safety as Russia continues with its invasion of Ukraine, which has battered equity markets and sent oil prices to a near 14-year high, adding further upward pressure to already high inflation.