Gold price in Pakistan records major increase

KARACHI: The gold price in Pakistan on Tuesday witnessed a major increase in line with the international market and depreciation of Pakistani Rupee, ARY News reported.

According to All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) increased by Rs6,200 per tola and Rs5,316 per 10 grams to settle at Rs221,000 and Rs189,472 respectively.

Meanwhile, the price of the yellow metal gained $10 to settle at $1,967 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.

On the other hand, the Pakistani rupee weakened by Rs3.78 against the dollar in the interbank market on Tuesday, according to State Bank of Pakistan (SBP) data.

Read More: PKR weakens by Rs3.78 against dollar in interbank

The US dollar closed at Rs283.04, 1.34 percent higher than yesterday’s close of Rs279.26. The Pakistani rupee had gained over Rs10 in past week since the approval of IMF loan programme.

A day earlier, the gold price in Pakistan continued to go up in line and witnessed an increase of Rs1,600 per tola (24 carats) and Rs131 per 10 grams.