ISLAMABAD: Gold prices in the country jumped for the second week in a row by Rs10,600 (+4.97%) per tola on a week-on-week basis. The gold rate in Pakistan for a single tola of 24-karat on a week-on-week (WoW) basis surged to Rs223,800 from Rs213,200, according to the data provided by All Pakistan Sarafa Gems and Jewellers Association (APSGJA). Similarly, the gold rate for 10 grams of 24-karat surged to Rs191,900 from Rs182,800 on WoW basis, showing an increase of Rs9,100. Likewise, the gold rate for 10 grams of 22-karat surged to Rs176,050 from Rs167,600, showing an increase of Rs8,450 during the week. The major reason for the increase in prices in the local market is because of the international rates as well as PKR-USD parity. The US dollar and gold go inverse, if the dollar weakens then gold raises and vice versa. The Pakistani rupee struggled against the US dollar last week, plummeting by 3.32 percent in the interbank market, 5 percent in open market and 5.08 percent in the black market/ Hundi. TLTP
