Gold prices in Pakistan raced ahead to once again cross the 0.2 million mark on Tuesday with the rupee remaining stuck in reverse gear amid economic frets from dried-up foreign reserves and a beleaguered loan deal with the lender of the last resort. Data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) showed that the price of gold (24 carats) increased by Rs2,300 per tola and Rs1,972 per 10 grams to settle at Rs201,500 and Rs172,754. The rupee extended losses against the US dollar, depreciating 0.24% in the inter-bank market on Tuesday, settling at 282.29, a decline of Re0.68, according to the State Bank of Pakistan (SBP). Recent events show that gold remains a safe haven asset as it is able to benefit from market uncertainty. Cumulatively, the yellow metal had shed Rs1,300 per tola during the last week – and it had only registered gains twice as the movement of Pakistani currency remains volatile.