Gold price increases in Pakistan

KARACHI: Gold maintained bullish momentum in the domestic market of Pakistan on Saturday in line with rising prices in the international market.

The per tola price of gold saw an increase of Rs1,600 per tola to settle at Rs230,200 while the price of 10-gram surged by Rs1,372 to close at Rs197,360 in the running business week.

In the international market, the price of the precious commodity registered significant gains as per ounce price surged to $2,198 after an increase of $18.

A day earlier, the price of per tola surged by Rs450 to settle at Rs228,600 while the price of 10-gram gold went up by Rs386 to close at Rs195,988.

Meanwhile, the Pakistani rupee gained 25 paisas against the US dollar in the interbank foreign exchange market.

The greenback was trading at Rs279.03 at the market closing as against the previous day’s closing of Rs279.28.

The buying and selling rates of the dollar in the open market stood at Rs279.2 and Rs282, respectively, according to the Forex Association of Pakistan.

The exchange rates of the Emirates dirham and the Saudi riyal decreased by seven paisas each to close at Rs75.97 and Rs74.39, respectively.

The price of the euro increased by 97 paisas to close at Rs305.19 against the last day’s closing of Rs304.22.

An increase of Rs2.10 was witnessed in the exchange rate of the British Pound, which was traded at Rs357.68 compared to the last closing of Rs355.58.