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Gold price surges Rs600 per tola in Pakistan

The yellow metal's price jumped despite appreciation of the Pakistani rupee against the US dollar

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Gold price surges Rs600 per tola in Pakistan
GNN Media: Representational Photo

Karachi: Gold price jumped by Rs600 per tola in Pakistan on Monday despite strenthening of the Pkaistani rupee against the US dollar and decline in global 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.

In the international market, the price of the yellow metal declined by $5 per ounce settling at $1,676 as some investors locked in profits after a sharp rise in the previous session.

On Monday, the international markets awaited this week's US inflation data to get cues on the Federal Reserve's rate hike path.

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