Gold price continues to surge, reaches Rs109,100 per tola

ISLAMABAD: The price of 24-karat gold increased by Rs800 on Thursday and was traded at Rs109,100 as compared to its previous closing at Rs108,300 on Wednesday, Karachi Sarafa Association reported.

Likewise, the price of 10-gram gold also witnessed an increase of Rs686 and was traded at Rs93,536 compared to its sale at Rs92,850 on Wednesday..

The per tola price of silver remained stable and was traded at Rs1,060 whereas the price of 10-gram silver also remained at the same level and was traded at Rs908.78 on Thursday.

In the international market, the per ounce price of gold stood at $1,814, up $12 from its level of $1,802 on Thursday.

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Concerns have been raised in the international market that post Covid-19 economic recovery will be long and gradual, as opposed to a v shape, which has led investors to hedge their positions against riskier assets and invest in gold.

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