ISLAMABAD: After a continuous decline till last week, the price of the precious metal in Pakistan witnessed increasing as the per tola price of 24 karats of gold went up by Rs1,600 and was available at Rs 214,800 on Monday against Rs 213,200 the previous day. The price of the precious metal was influenced due to the slight devaluation of the local currency against the dollar.
According to All Sindh Sarafa Jewellers Association, the price of 10 grams of 24 karats of gold also went up by Rs1,371 to Rs 184,156 from Rs 182,785, while the price of 10 grams of 22 karats of gold increased up to Rs 168,810 from Rs 167,553,
However, the price of per tola and 10-gram white plate (silver) remained unchanged and was closed at Rs 2,650 and Rs 2,271.94, respectively.
Gold Price in International Market
Like the devaluation of local currency, the price in the international market also influenced the local bullion market. On Monday, the price of the yellow plate in the international market went up by $2 to $1,957 per ounce from $1955 during the previous day.
Gold price remained volatile in the local market due to different political and financial reasons and touched its highest ever Rs2,40,000 per tola in May; however, the last one and a half months witnessed a major decline in the prices where one tola was available at Rs 2,04500 a couple of days before. During the last 3 to four days, the price of the precious metal went up again and is now available at Rs2,14800 in the local market.
