Gold tola rate slashes locally despite global surge

KARACHI: A tola of gold has recorded a slash of Rs400 on Saturday in the local markets and is now selling at Rs128,300 as the week comes to a close, ARY News reported.

Similarly, the 10-gram gold benchmark in the local market has receded Rs324 value and is now available in Karachi at Rs109,996 today, All Pakistan Jewelers Manufacturers Association Chairman Muhammad Arshad said.

While the local markets have seen gold rates sliding, internationally the gold has seen a surge of $14 an ounce. It is now available at the weekend closing rate of $1,863 per ounce.

Gold continues upward journey in Pakistan

Tomato made Rs23 pricier just this week as inflation spirals record 17.37%

Separately yesterday, the weekly inflation noted a 1.81 per cent increase across the country with 30 essential food items recording an increase to a point that just a kilogram of tomatoes was made Rs23 pricier, the Pakistan Bureau of Statistics report said.

The PBS report noted a record 17.37 pc yearly inflation in the country based on data it collected from 50 markets across 17 Pakistan cities.

The Sensitive Price Index –a weekly inflationary indicator that measures the change in the cost of a fixed basket of goods– for the current week ended on 11th November recorded an increase of 1.81 pc, said the PBS weekly report. While the same report noted the year-on-year inflation up to Nov 11, to 17.37 pc