Gold price per tola increases Rs500 in Pakistan

The yellow metal was priced at Rs227,800 per tola after an increase of Rs500 during the day, according to rates shared by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The 10-gram gold was sold at Rs195,302 after it jacked up by Rs 429.

Furthermore, gold rates increased by $5 and was sold at $2,178 per ounce in the international market.

It is pertinent to mention here that IMF staff and Pakistan have reached a staff-level agreement on the second and final review under Pakistan’s Stand-By Arrangement.

According to the official statement issued by an International Monetary Fund team led by Nathan Porter, IMF reached a staff-level agreement with Pakistan on the second and final review of the country’s stabilization program supported by the IMF’s US$3 billion (SDR2,250 million) SBA approved.

The agreement is subject to approval by the IMF’s Executive Board, upon which the remaining access under the SBA, US$1.1 billion (SDR 828 million), will become available.