Gold price rises by Rs3,100 per tola in Pakistan

KARACHI: The price of gold per tola rose by Rs3,100 across the country on Friday, the last business day of the week.

According to the Sindh Sarafa Bazaar Jewellers’ Association, the latest increase took the per tola price of gold to Rs354,100.

The price of 10 grams of gold also increased by Rs2,658, reaching Rs303,583.

It is worth noting that the price had also jumped by Rs3,500 per tola a day earlier, pushing the rate above Rs350,000 per tola once again.

On the other hand, Pakistan’s short-term inflation eased slightly for the week ending May 23, with the Sensitive Price Index (SPI) falling 0.29 per cent from the previous week, according to data released Friday by the Pakistan Bureau of Statistics (PBS). On a year-on-year basis, however, prices were up 1.35 per cent.

Out of the 51 essential items tracked by PBS, prices for 13 rose, 14 declined, and 24 remained unchanged.