Gold Rate Hits 288,650 PKR Amid Economic Shifts

Gold prices have been seen to be increasing due to the rupee's moderate devaluation; some economic activity is rising. 

Today (29th January), the gold rate is 288,650 PKR per 24K tola, which is higher than yesterday's (28th January) rate, which was 287,900 PKR. 

The rate of gold has been rising since 2022, due to massive PKR devaluation. At that time, the PKR was 172 against the dollar, and the gold rate was 129,400 PKR per 24K tola. The rupee decline against the USD is more than 100 rupees; however, international prices of gold have also increased.

For example, Pakistan's international reserve of gold in 2022 was USD 4.5 billion, and now it is USD 5.4 billion, which is an increase of 20%.