KARACHI – Gold maintained its gaining streak in local market of Pakistan on Thursday amid upward global trend.
Data shared by All Pakistan Gems and Jewellers Association showed per tola gold price surged by Rs900 to settle at Rs362,600.
Similarly, the price of ten-gram gold moved up by Rs772 with new price settling at Rs310,871 in domestic market.
In international market, the precious commodity saw an increase of $9 per ounce, driving up the rate to $3,399.
A day earlier, the price of per tola gold increased by Rs1,000 and was traded at Rs361,700 on Wednesday.
The prices of 10 grams of also increased by Rs857 to Rs310,099 whereas the price of 10 grams of 22 karat gold surged by Rs785 to Rs284,267.
Pakistanis may face another increase in fuel prices as global crude oil continues to rise. In last fortnight, Brent crude jumped from $65.85 to $67.47 per barrel, while US crude rose from $61.98 to $63.62 per barrel.
Sources familiar with development claimed that petrol and diesel prices will see a meagre surge from September 1. The last petrol and diesel price revision came on August 16, setting super petrol at Rs264.61 per litre and diesel at Rs272.99 per litre. Rising import costs and currency fluctuations had driven that hike.
Oil and Gas Regulatory Authority (OGRA) is also scheduled to submit its next pricing recommendations to the government on August 31. Any further increases in global oil rates could translate into higher fuel costs for consumers.
