Gold in Pakistan shines as price increases slightly

• Gold price increases by Rs800 per tola.
• Prices of silver remain unchanged in local market.
• Gold loses Rs200 in previous session. 

KARACHI: The price of gold in Pakistan increased slightly on Monday as the week started in line with the depreciation of the rupee against the dollar. 

According to data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) gained Rs800 per tola and Rs686 per 10 grams to settle at Rs209,000 and Rs179,184, respectively.

Meanwhile, the price of the yellow metal remained unchanged at $1,925 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 also remained the same at Rs2,480 per tola and Rs2,26.20 per 10 grams. 

In the last session on Saturday, the prices of the yellow metal fell by Rs200 per tola.

Meanwhile, the local currency lost minimally by 0.68% against the greenback in the interbank market today, according to the data shared by the State Bank of Pakistan (SBP). 

The rupee closed at Rs279.80 against the dollar.