Gold price in 2022 increased by Rs57,900 per tola 

The year 2022 witnessed a sharp increase in gold prices along with the high flight of the dollar just because of the depreciation of Pakistani rupees, reported 24NewsHD TV channel. 

Gold is regarded as a safe haven against inflation which has touched Pakistan’s history's worst peak during the year. People invested in the yellow metal to avoid depreciation in the Pakistani currency. 

From Rs126,000 per tola on December 31, 2021, it gained Rs57,900 or 45.95% during the outgoing year 2022. The gold demand has increased in the world generally in Pakistan particularly owing to its economic crisis led by political turbulence. 

It hit an all-time high of Rs184,100 per tola in late December. The gold price in dollar value, however, is hovering at around $1,800 per ounce these days. In the international market, gold remained more or less stable in 2022.

On July 28, when the Pakistani rupee touched an all-time low of Rs239.94 against the US dollar in the interbank market; gold price recorded its single-day highest rise of Rs10,500 per tola as investors scurried for a safe haven after a softening currency and bleak economic data underlined the shaky pace of growth.

Meanwhile, silver prices in the domestic market remained unchanged at Rs2,070 per tola and Rs1,770.74 per 10 grams.

Silver touched its all-time high of Rs2,100 per tola on December 22, 2022.