KARACHI: Gold prices in Pakistan on Thursday recorded a massive increase of Rs3400 per tola as Russian forces invaded Ukraine after President Vladimir Putin ordered the military operation.
Sharing the price of the precious metal, All Pakistan Jewelers Manufacturers Association Chairman Muhammad Arshad said that the rate of per tola gold price increased by Rs3400 to 130,300 in the domestic market.
The precious metal was also gained by Rs2915 per 10-gram and sold at Rs111,711.
In international market, bullion prices jumped to seven-month highs on Thursday as supplies worries intensified after Russia’s invasion of Ukraine, which also propelled gold to a near 18-month high as investors switched to safe-haven assets.
Oil prices jumped on Thursday, with Brent rising above $105 a barrel for the first time since 2014, after Russia’s attack on Ukraine exacerbated concerns about disruptions to global energy supply.
Read: OIL RISES ABOVE $105 AFTER RUSSIA ATTACKS UKRAINE
Russia launched an all-out invasion of Ukraine by land, air and sea in the biggest attack by one state against another in Europe since World War Two. read more
The United States and Europe have promised the toughest sanctions on Russia in response.
