{"id":14654,"date":"2023-03-16T15:10:57","date_gmt":"2023-03-16T15:10:57","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=14654"},"modified":"2023-03-16T15:10:57","modified_gmt":"2023-03-16T15:10:57","slug":"gold-price-surges-by-rs1100-per-tola-in-pakistan","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/gold-price-surges-by-rs1100-per-tola-in-pakistan\/","title":{"rendered":"Gold price surges by Rs1,100 per tola in Pakistan"},"content":{"rendered":"<p>Gold prices in Pakistan continued to extend gains on Thursday as the per-tola rate rose by over Rs1,000 in line with the international market as rising inflation boosts its appeal.<br \/>\nAccording to data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) increased by Rs1,100 per tola and Rs943 per 10 grams to settle at Rs203,500 and Rs174,468, respectively.<br \/>\nCumulatively, the precious commodity has gained Rs6,000 per tola in the five sessions (Saturday-Thursday).<br \/>\nAs the other markets slide investors generally find refuge in gold to maintain a low-risk profile.<br \/>\nA likely economic contraction looms over Pakistan amid political and economic uncertainties and a holdup in the revival of the <a href=\"https:\/\/www.imf.org\/en\/Home\">International Monetary Fund<\/a>\u2019s (IMF) loan.<\/p>\n<p><em><strong>Read more:\u00a0<a href=\"https:\/\/dailyausaf.com\/en\/business\/rupee-tumbles-by-nearly-rs19-against-dollar-in-interbank-amid-imf-delays.html\">Rupee tumbles by nearly Rs19 against dollar in interbank amid IMF delays<\/a><\/strong><\/em><\/p>\n<p>The association said prices in the local market remained lower by Rs5,000 per tola as compared with the rates in Dubai\u2019s gold market.<br \/>\nIn the international market, gold edged higher, helped by a weaker dollar, but prices held below last session&#8217;s 6-week peak as risk sentiment improved after Credit Suisse, the latest focal point of a potential banking crisis, secured funds. The per-ounce price settled at $1,926 after an increase of $2.<br \/>\nCredit Suisse, which sparked a rout in European banking stocks on fears of its collapse, recovered 28% after saying it would borrow up to $54 billion from the Swiss central bank to shore up liquidity and investor confidence.<br \/>\nAnalysts believe gold was enjoying a &#8220;knee-jerk rally&#8221; with short covering potentially accounting for a large part of the gains, yet sentiment was broadly favourable towards gold.<br \/>\nMeanwhile, silver prices in the domestic market remained unchanged at Rs2,150 per tola and Rs1,843.27 per 10 grams, respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices in Pakistan continued to extend gains on Thursday as the per-tola rate rose by over Rs1,000 in line with the international market as rising inflation boosts its appeal. According to data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) increased by Rs1,100 per tola and Rs943 [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":14655,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[6910,447,1881,3175],"class_list":["post-14654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-all-pakistan-sarafa-gems-and-jewellers-association","tag-gold","tag-inflation","tag-price-hike"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/14654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=14654"}],"version-history":[{"count":0,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/14654\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/14655"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=14654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=14654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=14654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}