Gold price surpasses Rs200,000 mark for the time in the history of Pakistan

Gold price surpasses the Rs200,000 mark for the time in the history of Pakistan!

On Friday, according to the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) soared by Rs7,000 per tola and Rs6,000 per 10 grams to settle at Rs202,500 per tola and Rs173,610 per 10 grams, respectively.

A record breaking rupee devaluation and a steep decline in the foreign exchange reserves in the country a major factors contributing towards the massive price hike in the bullion market.