ISLAMABAD: Gold price in the country surged for the second straight week by Rs6,700 (+2.95 percent) per tola on a week-on-week basis on the back of rupee’s depreciation and rise in price in the global markets where it surged by $25.30 (+1.34 percent) per ounce. In the preceding week, the price surged by Rs5,600 (+2.52 percent) per tola on a week-on-week basis, despite a 2.73 percent weekly decline in global markets where the yellow metal registered its lowest weekly close in five months. Prior to this, the gold price for a single tola of 24-karat in the country fell by Rs2,000 during the preceding three weeks. The gold rate in Pakistan for a single tola of 24-karat on a week-on-week (WoW) basis increased to Rs234,100 from Rs227,400, according to the data provided by All Pakistan Sarafa Gems and Jewellers Association (APSGJA). TLTP
