Gold price up by Rs2,700 per tola in Pakistan. 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.
Read more: Gold price in Pakistan ticks up in lukewarm demand
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.
Earlier, the federal government had announced a Rs5 cut in the price of petrol for the next fortnight.
The new price of petrol is Rs267 per litre. However, the price of diesel would be maintained at Rs280 per litre till the next review, Minister for Finance and Revenue Senator Ishaq Dar said in a press conference on Tuesday.
The light diesel oil’s price has been moved down to Rs184.68 per litre the rate of kerosene oil has now been fixed at 187.73.
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