Gold price increases by Rs2,700 per tola in Pakistan

KARACHI: Gold prices in domestic market continued upward trend on Wednesday as rupee lost ground against the US dollar in the inter-bank market.

All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) data shows the price of gold (24 carats) increased by Rs2,700 per tola and Rs2,315 per 10 grams to settle at Rs197,100 and Rs168,981, respectively.

Cumulatively, the yellow metal gained Rs3,000 per tola in the last two sessions recovering from the previous loses. The per tola price witnessed an increase of Rs300 on Tuesday.

In the international market, the per ounce price of gold went up by $27 to reach $1,837.

The Pakistani rupee lost 1.73% against the US dollar in the interbank market, settling at 266.11 as compared to yesterday’s Rs261.50.