Gold becomes distant dream in Pakistan

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Karachi: The domestic gold price soared by Rs2, 500 per tola to an all-time high of Rs132, 000 here on Friday.

According to the Sindh Sarafa Bazaar Jewelers Association, the price of gold increased by Rs2,500 to Rs132,000 per tola.

Besides, the price of 10 grams of gold has gone up by Rs2,144 to Rs113, 169.

In the international market, the price of yellow metal rose by $4 to $2,054 an ounce.

It may be recalled that in February 2019, the price of gold per tola was Rs68,500. Due to the coronavirus, the value of gold has increased rapidly globally.

The price of gold has jumped due to increased investment in the yellow metal in the wake of rising tensions between the US and China and devaluation of major currencies.