Gold price crosses Rs350,000 per tola in Pakistan after fresh increase 

KARACHI: Gold prices in Pakistan rose on Monday, tracking gains in the international market. 

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold increased by Rs800 to Rs350,200 per tola in the local market. The price of 10-gramme gold also climbed by Rs686 to Rs300,240. 

On Saturday, domestic gold prices had declined by Rs1,600 per tola, settling at Rs349,400. 

In the international market, the price of gold edged up by $8 to $3,282 per ounce, including a premium of $20, as per APGJSA data. 

Meanwhile, silver prices remained unchanged at Rs3,782 per tola. 

Since the beginning of the year, gold has surged by Rs76,600 per tola, compared to the January 1 price of Rs273,600. 

Despite the Pakistan Stock Exchange (PSX) ending June at a record high, the Pakistani rupee recorded a slight depreciation against the US dollar in Monday’s interbank session.  

The rupee slipped by 0.01 per cent, or 4.22 paisa, closing at Rs283.76 per dollar, down from the previous close of Rs283.72, according to the State Bank of Pakistan. 

During the current fiscal year, the rupee has weakened by Rs5.42 or 1.91 per cent. On a calendar-year basis, it has declined by Rs5.21 or 1.84 per cent.