Gold gains Rs600 per tola in Pakistan

KARACHI: Gold price rose by Rs600 per tola in Pakistan despite the appreciation of the Pakistan rupee against the US dollar and a decline in international prices.
Data released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) showed that the price of gold rose by Rs600 per tola and Rs514 per 10 grams to settle at Rs151,800 and Rs130,144, respectively.
Pakistan is a small market for gold at the global level. It meets the commodity’s demand through imports as it does not produce the precious metal locally. Accordingly, the gold price for local markets is determined by keeping in view its prices in world markets, rupee-dollar exchange rate, and demand and supply in domestic markets.
The latest price for local markets was determined to keep in view the prices at which trade took place among buyers and sellers.-PNP