With an increase of Rs2,350 per tola, the gold price reached an all-time high at Rs169,650 in local market on Monday amid concerns that the country’s economic conditions will deteriorate further.

According to the All Sindh Sarafa Jewellers Association, the price of 10 gram gold also increased by Rs2,016 and was sold at Rs145,448 .

The price of gold in the international market decreased by US$3 and was traded at US$1,794 against its sale at US$1,797 the previous day.

Pakistan fulfills its gold demand by importing precious commodity. Therefore, the rise and fall in the price depend upon many factors, including prices in the international market, the PKR to the USD exchange rate, and the demand and supply in local markets.

Meanwhile, the price of per tola silver increased by Rs80 and was sold at Rs1,970 whereas that of ten-gram silver increased by Rs68.58 to Rs1,688.95.