Gold prices rise by Rs400 per Tola, reaching Rs217,200

Karachi: The price of 24 karat gold rose by Rs400 per tola, reaching Rs217,200 on Monday compared to its previous sale at Rs216,800.

All Sindh Sarafa Jewellers Association confirmed increase in the yellow metal in the local markets.

Similarly, the cost of 10 grams of 24 karat gold increased by Rs1,543, now priced at Rs186,214 from Rs185,871. The rates for 10 grams of 22 karat gold also saw an uptick, rising to Rs170,696 from Rs170,382.

The per tola and ten-gram silver prices remained steady at Rs2,670 and Rs2,289.09, respectively. Internationally, the gold price increased by $3 to $2,043 from $2,040, according to the association.

In a separate development, the State Bank of Pakistan (SBP) announced a current account surplus of $9 million in November 2023.

The Current Account Deficit (CAD) had stood at $775 million in July 2023 but showed significant improvement, posting a surplus of $9 million in November 2023.

The data also revealed that the CAD for the first five months of the current fiscal year improved to $1.160 billion, compared to a deficit of $3.264 billion during the same period in the previous financial year.