KARACHI: The domestic gold price increased by Rs400 per tola on Thursday, according to local news media.
According to all Pakistan Jewelers Manufacturers Association Chairman Muhammad Arshad, the prices of per tola of the precious commodity jumped to Rs125,650 per tola after the hike.
Similarly, the price of 10 grams of gold in the local market jumped by Rs343 to Rs107,724.
Rupee inches up
In the interbank currency market on Thursday, the Pakistani rupee edged higher by three paisas against the US dollar.
According to the State Bank of Pakistan (SBP), the domestic currency finished at Rs178.12 versus the US dollar, up three paisas from the previous close of Rs178.15.
The rupee hit a new all-time low against the US dollar on Wednesday, finishing at Rs178.15.
Gold is a chemical element with the symbol Au (from Latin aurum ‘gold’) and atomic number 79. This makes it one of the higher–atomic-number elements that occur naturally. It is a bright, slightly orange-yellow, dense, soft, malleable, and ductile metal in pure form.
Chemically, gold is a transition metal and a group 11 element. It is one of the least reactive chemical elements and is solid under standard conditions. Gold often occurs in free elemental (native state), as nuggets or grains, in rocks, veins, and alluvial deposits. It occurs in a solid solution series with the native element silver (as in electrum), naturally alloyed with other metals like copper and palladium, and mineral inclusions such as within pyrite.
