Gold glitters on rupee's free fall, price soars by Rs2,800 in Pakistan

• Gold price closes at Rs145,200 per tola today.
• Yellow metal gains Rs2,400 per 10 grams. 
• Price of gold price increases by $2 per ounce in in'tl market. 

KARACHI: The gold price in Pakistan gained Rs2,800 per tola as the local currency fell to a new low of 224 against the dollar on Tuesday.

The precious commodity has emerged as a safe asset in these challenging times of the economic and political crisis.

According to rates issued by the All Sindh Sarafa Association, the yellow metal closed at Rs145,200 per tola while the price increased by Rs2,400 per 10 grams to close at Rs124,485. 

In the international market, the price of yellow metal increased by $2 per ounce to settle at $1,717.

Gold rates in Pakistan are around Rs2,000 under the cost compared to the rate in the Dubai market.

Meanwhile, silver prices in the domestic market increased by Rs10 per tola and Rs8.58 per 10 grams to close at Rs1,580 and Rs1,354.60 today.