Gold sets another record amid political turmoil in Pakistan
May 9, 2023 07:00 PM
Gold prices in Pakistan Tuesday surged to another all-time high as investors shifted to the yellow metal due to the political uncertainty that ensued after the arrest of Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan.
The rate of 24 Karats gold increased by Rs3,200 per tola and Rs2,744 per 10 grams to reach Rs230,100 and Rs197,274, respectively.
Gold rate has been increasing persistently and hitting new highs almost every other day due to economic uncertainty, but market experts attributed today's rise to the arrest of Khan — who was apprehended in the Al-Qadir Trust case.
The price of silver also hit record highs after they increased by Rs100 per tola and Rs85.72 per 10 grams to settle at Rs3,000 and Rs2,572, respectively.
The rise in the gold price also came as the precious metal's value increased in the international market by $9 to settle at $2,031 per ounce.