The value of gold in Pakistan has hit a record high, as the per tola price of the yellow metal reached 79,200 on Monday after an increase of Rs600.
The price of 10-gram gold also witnessed an increase of Rs1,069 and was traded at Rs68,029. The price of 10-gram gold was recorded at Rs66,958 on Saturday.
In the international market, gold climbed towards the near six-year high reached in the previous session, driven by dovish signals from global central banks and increased tensions between the United States and Iran.
Spot gold was up 0.5pc at $1,405 an ounce by 1240 GMT, headed for a fifth straight session of gains. Gold prices hit $1,410.78 on Friday, their highest since Sept 4, 2013. US gold futures rose 0.7pc to $1,410 an ounce.
“The weakness of the US dollar, gold’s technical picture and interest from investors themselves have become self-sustaining factors, especially after the massive inflows into gold exchange-traded funds,” Commerzbank analyst Eugen Weinberg said.
