Gold at record highs, price surges to Rs167,300 per tola

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Islamabad: Gold price continued an upward trend on Saturday to hit a fresh all-time high in the country as the instability of the rupee contributed to pushing the prices of precious metal up significantly. The prices of gold rose by Rs200 per tola and Rs171 per 10 grams to settle at an all-time high of Rs167,300 and Rs143,432, respectively, data released by All Pakistan Sarafa Gems and Jewellers Association (APSGJA) showed. A day earlier, the gold price settled at a record high of Rs167,100 per tola as people took refuge in the safe-haven metal on mounting concerns that the nation’s economic conditions will deteriorate further. Cumulatively, the yellow metal gained Rs4,000, or 2.49%, per tola during the week ended December 10. Online