Gold prices in Pakistan surged over 2.67 percent to Rs130,300 per tola on Thursday as Russia’s invasion of Ukraine ratcheted up fears of a war in Europe and drove investors away from riskier assets and into safe havens.
The price of the precious commodity rose by Rs3,400 per tola and Rs2,915 per 10 grams to settle at Rs130,300 and Rs111,711, respectively.
A gold dealer said that investors are closely watching developments regarding the Russia-Ukraine crisis.
“Till there is uncertainty, the market will continue to record gains,” he said, adding that when the crisis will end, the prices will plummet.
In the international market, the price rose above the $1,900-mark, recording an increase of $77 to settle at $1,972.