ISLAMABAD: The per tola price of 24 karats of gold witnessed another major increase by Rs 1400 and reached another historic high at Rs 226,900 per tola on Monday against its sale at Rs 225,500 the previous day, the All Sindh Sarafa Jewellers Association reported.
The continuous increase in the price of the yellow plate probably links to the uncertain situation over the IMF deal with Pakistan and the shrinking of other sectors (except gold) in the country.
Meanwhile, the price for the 10 grams of 24 karats of gold also increased by Rs 1200 to Rs 194,530 from Rs 193,330, whereas the price of 10 grams of 22 karats of gold reached Rs 178,319 from Rs 177,219.
The per tola silver price also witnessed an increase by Rs 30 to close at Rs 2900, and that of ten-gram silver also rose by Rs 25.72 to close at Rs 2486.28
Gold Price in International Market
Moreover, the price in the international also affected the value of the yellow plate in the local market. The price of gold in the international market went up by $ 05 to close at $2022 compared to the sale of $2017, the Association reported.
Gold Prices have witnessed an increase of over Rs 20,000 in a few weeks, raising the eye brows of domestic users. Bullion experts say the release of the $1.1b tranche from the IMF could possibly stop the shooting prices of the yellow plate.
