Gold prices have been on the rise since December 2015, the price hit the record high in September 2016 after that it fell and then hit a record high of the year in February 2018 according to goldprice.org. However, the Gold prices are all-time record high in Pakistan and reached Rs89,000 per tola today.
According to the rates provided by Karachi Saraf Jewelers Association 24 Karat Gold Tola (11.664 grams) is now selling at Rs.89,000. This is the highest price of Gold in history, the price of gold has been rising sharply from the past year, and this is also due to the Dollar exchange rate.
The dollar is also trading at above Rs. 158 according to interbank rates. Previously, in September 2011 gold prices hit the record high of all time in the world, however, at that time the price of Gold in Pakistan was above Rs.50,000 because US dollar was trading at Rs.87.70 at that time which kept the gold price low in Rupees.
Due to the devaluation of Pakistani currency and the rising price of gold, Pakistanis now face the record high price of gold which has ever been witnessed. It is also estimated by the experts and economists that gold prices are likely to increase for the next few years and it might hit a new record high breaking September 2011’s record.