Gold rate surges to fresh all-time high

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An undated file image of a woman wearing gold bangles. — AFP
An undated file image of a woman wearing gold bangles. — AFP

The rate of gold soared to another all-time high in Pakistan Saturday as the country experienced record weekly inflation amid the ongoing economic turmoil.

The price of gold (24 carats) increased by Rs500 per tola and Rs429 per 10 grams to reach Rs225,500 and Rs193,330, respectively, data shared by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA).

The development came despite the precious metal’s value declining in the international market by $19 to settle at $2,017 per ounce.

More to follow…

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