Gold price may hit Rs 43,000 per tola

The gold price may hit an all time high at Rs 43,000 per tola, if its prices surged to 1300 dollars per ounce in international market.

Sources in Sarafa markets reported the gold is cheaper in Pakistan as compared to prices in international market; however, Rs 43,000-level is just around the corner.

Nazish Lutfi of ISMAR (Institute of Securities Managment And Research) said gold accounts for at least 26 per cent of Pakistan’s foreign exchange reserves, indicating its feasibility for investment.

He said gold burgeoned 300 per cent during the last ten years, that is quite alarming, adding yellow metal could be sold if the economies around the world perform well, leading to the markets’ crash.

However, the investors should be cautious, he stressed.