KARACHI: Following the rise of gold value in global market, gold price in Pakistan has also shot up on Thursday by Rs1,450 taking it to Rs69,600 per tola.

The last time gold increased by Rs1,000 in a day was on December 27, according to data compiled by the All Sindh Saraf and Jewellers Association.

The price of gold has been on the rise this month. In just two weeks, the price of a tola has increased by Rs2,500.

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.