Karachi, Pakistan: On Tuesday the price of gold increased by Rs.1450, pushing the price to 67,8000 per 12 grams(1 tola) In Pakistan. This increase in price occurred in order to keep up with the gold rates in the international market.
Similarly, the price of 10 grams of gold rose by Rs1244 amping it to Rs 58,128. The hike was attributed to an increase in gold price in the international market.
Haroon Chand, president of Sindh Sarafa Bazar Association, said that the closing price of gold twice has been a practice in the past, highly relying on the unusual rise and falls in price.
Chand also stated there were buyers of gold in the market, but compartively less sellers, this has been the main factor that has caused an increase in its price.
He went on to say regarding the price quotient that,gold price had risen by $10 in the international market taking it to $1250 per ounce.
The Sindh Sarafa Bazar Association also stated that the price of gold first went up by Rs850 per tola, this was followed by another Rs600 hike later the same day.
