Gold rates register increase in Pakistan

ISLAMABAD: The per tola price of 24 karat gold witnessed an increase of Rs.1,500 and was sold at Rs.231,000 on Thursday compared to its sale at Rs. .229,500 on the last trading day.

The price of 10 grams of 24 karat gold also increased by Rs.1,285 to Rs.198,045 from Rs.196,760 whereas the price of 10 gram 22 karat gold went up to Rs.181,541 from Rs. 180,363, the All Sindh Sarafa Jewellers Association reported.

The price of per tola and ten gram silver remained constant at Rs.2,580 and Rs.2,211.93 respectively

The price of gold in the international market increased by $14 to $2,214 from $.2,200, the Association reported.

Pakistan’s benchmark index touched an all-time high on Thursday, extending a rally following a staff level agreement with the International Monetary Fund earlier this month to free up more financial aid for the country.

The benchmark KSE-100 (.KSE), opens new tab touched a record high of 67,200.82 points in intraday trade, surpassing its previous high of 67,093.96 touched on Dec. 13. The index was trading at 67,148.65 points at 10:50 a.m. local time (0550 GMT).

“Foreign and local institutions buying amid positive news on privatisation and IMF,” Topline Securities’ Mohammed Sohail said.