Gold makes minor gains in second consecutive session

• Gold price increases by Rs1,800 per tola.
• Prices of gold falls by $23 internationally.
• Silver price remains unchanged in local market.

KARACHI: The gold prices in Pakistan appreciated for the second consecutive session after a continuous decline after the International Monetary Fund's (IMF) $3 billion deal. 

According to data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) increased by Rs1,800 per tola and Rs1,543 per 10 grams to settle at Rs207,800 and Rs178,155, respectively.

Meanwhile, the price of the yellow metal fell by $23 to settle at $1,905 per ounce in the international market today.

The gold rate has been volatile in Pakistan recently amid continued political and economic uncertainty, and high inflation. People prefer to buy this precious commodity in such times as a safe investment and a hedge.

Data shared by the association showed the price of silver managed to remain unchanged at Rs2,380 per tola and Rs2126.20 per 10 grams, respectively.

A day earlier, the prices of the yellow metal increased by Rs1,000 per tola. 

Meanwhile, the rupee managed to make minor gains against the dollar as it recovered by 0.13% on Thursday. 

The local currency closed at Rs277.04 against the greenback in the interbank market, according to the State Bank of Pakistan (SBP).