{"id":16423,"date":"2022-07-29T05:13:52","date_gmt":"2022-07-29T05:13:52","guid":{"rendered":"https:\/\/undergroundnews.co.uk\/?p=16423"},"modified":"2022-07-29T05:13:53","modified_gmt":"2022-07-29T05:13:53","slug":"gold-sees-highest-single-day-rise-of-rs10500-as-bullion-price-hits-historic-high","status":"publish","type":"post","link":"https:\/\/undergroundnews.co.uk\/?p=16423&lang=en","title":{"rendered":"Gold sees highest single-day rise of Rs10,500 as bullion price hits historic high"},"content":{"rendered":"\n<p><strong>Mishaal Arshad C.M Underground News<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Gold price rise to a fresh record high of Rs162,500 per tola.<\/strong><\/li><li><strong>Price surges by Rs17,500 in the last seven sessions.<\/strong><\/li><li><strong>Analyst predicts precious commodity to maintain an uptrend.<\/strong><\/li><\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-cnvs-separator-id-1659071386124\"\/>\n\n\n\n<p>KARACHI: Gold price rose to a fresh record high of Rs162,500 per tola on Thursday \u2014 after recording a single-day highest rise of Rs10,500 \u2014 with investors scurrying for a safe haven after a softening currency and bleak economic data underlined the shaky pace of growth.<\/p>\n\n\n\n<p>Data released by the All Sindh Saraf and Jewellers Association (ASSJA) showed that the price of gold, considered a safe haven, soared from Rs9,003 per 10 grams to Rs139,318 in the local market.<\/p>\n\n\n\n<p>With the latest increase of Rs10,500 per tola today, the gold price has surged by a whopping Rs17,500 in the last seven sessions.<\/p>\n\n\n\n<p>The analyst further said that the precious commodity is expected to maintain an uptrend as international prices are once again eyeing a $1,800 mark while there is \u201cno hope of stability in local currency\u201d till the country receives a loan tranche from the International Monetary Fund (IMF).<\/p>\n\n\n\n<p>The latest price for local markets was determined to keep in view the prices at which trades took place among buyers and sellers.<\/p>\n\n\n\n<p>Meanwhile, ASSJA President Haji Haroon Chand, in a video message, lamented that their businesses are suffering because of a lack of purchasing power; while the government has also imposed fixed taxes on gold dealers which is also adding to the woes of the dealers.<\/p>\n\n\n\n<p>The bullion price is going up for the last many days. Besides, the international currency; the US dollar is strengthening globally. And the local currency (versus the US dollar) has continued to depreciate.<\/p>\n\n\n\n<p>In the international market, bullion prices decreased by $29 per ounce to settle at $1,750 after US Federal Reserve chair Jerome Powell signalled the central bank could slow the pace of rate hikes in the coming months.<\/p>\n\n\n\n<p>Meanwhile, silver prices in the domestic market rose by Rs30 per tola and Rs25.72 per 10 grams to settle at Rs1,630 per tola and Rs1,397.46 per 10 grams today.<\/p>\n","protected":false},"excerpt":{"rendered":"Mishaal Arshad C.M Underground News Gold price rise to a fresh record high of Rs162,500 per tola. Price&hellip;\n","protected":false},"author":3,"featured_media":16427,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"csco_singular_sidebar":"","csco_page_header_type":"","csco_appearance_grid":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"footnotes":""},"categories":[50,76,71],"tags":[],"class_list":{"0":"post-16423","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"category-important-news","9":"category-latest-news","10":"cs-entry","11":"cs-video-wrap"},"_links":{"self":[{"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/16423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16423"}],"version-history":[{"count":1,"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/16423\/revisions"}],"predecessor-version":[{"id":16428,"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/16423\/revisions\/16428"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=\/wp\/v2\/media\/16427"}],"wp:attachment":[{"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}