Gold prices up by Rs1,200/ tola in Pakistan

The per tola price of 24 karat gold witnessed an increase of Rs1,200 in Pakistan and was sold at Rs.229,400 on Tuesday compared to its sale at Rs228,200 on the last trading day.

According to All Sindh Sarafa Jewellers Association, the price of 10 grams of 24 karat gold also increased by Rs1,029 to Rs196,674 from Rs 195,645 whereas the price of 10 gram 22 karat gold went up to Rs180,284 from Rs179,341.

The price of per tola and ten gram silver remained constant at Rs2,580 and Rs2,211.93 respectively. The price of gold in the international market increased by $6 to $2,193 from $2,187, the Association reported.

It is pertinent to mention here that IMF staff and Pakistan have reached a staff-level agreement on the second and final review under Pakistan’s Stand-By Arrangement.

According to the official statement issued by an International Monetary Fund team led by Nathan Porter, the IMF reached a staff-level agreement with Pakistan on the second and final review of the country’s stabilization program supported by the IMF’s US$3 billion (SDR2,250 million) SBA approved.