KARACHI: Gold price in Pakistan registered a whopping increase in line with a rally in the international market and following the depreciation of Pakistani Rupee, ARY News reported on Friday.
According to data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) gained Rs6,500 per tola and Rs5,574 per 10 grams to settle at Rs214,500 and Rs193,900, respectively.
Meanwhile, the price of the yellow metal remained unchanged at $1,959 in the international market.
Moreover, the data showed that the price of silver increased by Rs50 per tola and Rs42.86 per 10 grams to settle at Rs2,650 and Rs2271.94, respectively.
The gold rate has been volatile in Pakistan recently amid continued political and economic uncertainty, and high inflation.
Earlier in the day, the Pakistani rupee depreciated against the US dollar in the interbank market after registering gains for two consecutive sessions.
The central bank stated the USD gained Rs1.33 against the local unit to close at 279.59. The US dollar closed at Rs276.46 the other day.
Meanwhile, the dollar is being sold at Rs280 in the open market. The Pakistani rupee had gained over Rs10 in past week since the approval of IMF loan programme.
Pakistan on Thursday received the first tranche of $1.2 billion from the International Monetary Fund under the SBA programme.
Read more: Pakistan receives first tranche of $1.2bln from IMF
Dar said the remaining $1.8 would be released after two reviews, meaning that there would be two instalments.
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