KARACHI: Gold prices on Wednesday experienced the highest one-day jump of Rs9,900 per tola, hitting Rs240,000 as political turmoil grips the country following the arrest of Pakistan Tehreek-e-Insaf (PTI) Chairman and former prime minister Imran Khan.
The arrest of Imran Khan has sent shockwaves throughout the country as the price of gold surged by a staggering Rs9,900 per tola, reaching an all-time high of Rs240,000 per tola in the local market, according to rates shared by All Pakistan Gems and Jewellers Sarafa Association (APGJSA).
Ongoing political instability took its toll on market sentiment as the Pakistani rupee finished at a record low of 290.22 against the US dollar after depreciating nearly 1.9% in the inter-bank market on Wednesday. As per the State Bank of Pakistan (SBP), the currency closed at 290.22, a decrease of Rs5.38.
It is important to note that the country has been in unrest for the past two days as a result of the detention of Imran Khan, the chairman of the Pakistan Tehreek-e-Insaf (PTI) and a former prime minister. Large-scale protests were sparked by the incident all around the nation. Later, police also detained additional PTI leaders.
