Gold price jumps by Rs2,400 to Rs242,700 a tola

ISLAMABAD: Gold price increased by Rs2,400 per tola in the local market in line with an overnight uptick in the price of the yellow metal in the international market. According to the data provided by the Karachi Sarafa Association, the price for one tola of 24-karat gold increased to Rs242,700 from Rs240,300. Similarly, the price for 10 grams of 24-karat gold increased to Rs208,076 from Rs206,018, showing an uptick of Rs2,058. Following suit, the price for 10 grams of 22-karat gold increased to Rs190,736 from Rs188,850, showing an uptick of Rs1,886. The gold price for one tola of 24-karat gold has been kept a significant Rs3,000 below its actual cost due to a reduction in purchasing power, said Karachi Sarafa Association. The gold price in the country surged by Rs7,100 per tola in April. It may be noted that the gold price hit an all-time high in Pakistan on April 20 when it reached Rs252,200. Earlier gold price per tola in Pakistan hit all-time highs of Rs251,900 on April 17, Rs247,300 on April 16 and Rs247,600 on April 9. TLTP