Gold continues to shine as price surges by Rs1,600

KARACHI: The gold price in Pakistan on Monday continued to go up in line with an increase in the international market, ARY News reported.

According to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) increased by Rs1,600 per tola and Rs131 per 10 grams to settle at Rs214,800 and Rs184,156 respectively.

Meanwhile, the price of the yellow metal gained $2 to settle at $1,957 per ounce in the international market today.

Moreover, the price of per tola and 10 gram silver remained unchanged, i.e., Rs2,650 and Rs2,271.94 respectively.

The gold rate has been volatile in Pakistan recently amid continued political and economic uncertainty, and high inflation.

Last week, gold price in Pakistan registered a whopping increase in line with a rally in the international market.

According to data the price of gold (24 carats) gained Rs6,500 per tola and Rs5,574 per 10 grams to settle at Rs214,500 and Rs193,900, respectively.

Pakistan on Thursday received the first tranche of $1.2 billion from the International Monetary Fund under the SBA programme.

Read more: Pakistan receives first tranche of $1.2bln from IMF

Finance Minister Ishaq Dar said the remaining $1.8 would be released after two reviews, meaning that there would be two instalments.