KARACHI: Following the rise of gold value in global market, gold price in Pakistan has also shot up on Monday by Rs200 taking it to Rs67,300 per tola.
In the local market, price of 10 grams gold has increased by Rs200 taking it to Rs57,700.
The prices of one tola and 10 grams were Rs56,200 and Rs48,171 on December 30, 2017, based on world price of $1,303 per ounce. A year later, these are being quoted at Rs67,000 and Rs58,128 while the world price is $1,284 per ounce.
Just like petrol prices, Pakistan also decides gold prices based on price movements in the international market and fluctuation in the dollar rates as well as the market forces of demand and supply. Pakistan imports gold in dollars so when the dollar goes up, gold prices also go up in the country.