Gold shines again, price surges by Rs2,200 per tola in Pakistan

Karachi: Gold continued to shine in the local market on Thursday as the price jumped by 1.5 per cent.

The price of the yellow maetal swelled by Rs2,200 per tola and Rs1,886 per 10 grams to settle at Rs145,900 per tola and Rs125,086 per 10 grams, data released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) showed.

In the international market, the price of the yellow metal rose by $27 per ounce settling at $1,651 as the dollar resumed its ascent after a brief dip in the previous session, with looming rate hikes still a headwind for the non-yielding bullion.