Gold per tola price goes up by Rs1500

Lahore: The price of per tola Gold went up by Rs1500 amid soaring inflation in the country, All Pakistan Gems and Jewelers Association confirmed on Monday.

The Association, in a statement, said that the price of gold per tola went up by Rs 1500 to Rs210500 on the first day of the week.

They said that 10 grams of gold became expensive by 1286 rupees in exchange markets and was available at 180, 470rupees. The price of gold in the world exchange market, they said, was 1924 dollars per ounce after a decrease of 4 dollars.

Earlier in the day, the rupee lost Rs6.50 value against the US dollar in the interbank market and hit an historic low of Rs269.10.

The Forex Dealers said that the rupee continued to lose value against the dollar in the interbank market. They said that the banks were selling the dollar to the importers at Rs27.80, adding that the same was being sold between Rs267 to Rs270 in the open market.

According to the reports, the dollar gained Rs36.91 in the interbank market since Thursday. The rupee lost its value after the Exchange Companies Association of Pakistan’s (ECAP) announced to remove dollar cap on the exchange rate.

Last week, the Exchange Companies Association of Pakistan (ECAP) had removed the cap on the US dollar to stop illegal and unlawful sale in the local markets.