Gold hits Rs403,600 per tola
Gold prices reached a record high of Rs403,600 per tola on Monday, up Rs5,900 from Saturday, as consumers continue to face fluctuating rates announced by the gold trade body. According to the All Pakistan Gems and Jewellers Association (APGJSA), the official one-tola bullion rate peaked at Rs398,800 on Sept 23. However, traders were already quoting rates between Rs401,100 and Rs401,600, diverging from the official figures without clear justification. On Monday, while the association announced the rate at Rs403,600 per tola, traders were reportedly offering lower rates between Rs401,500 and Rs402,500. Similar disparities have occurred previously, prompting law enforcement agencies to express concerns over transparency, speculation, and smuggling in the bullion market.