KARACHI: The price of 24 karat per tola gold increased by Rs400 per tola and was trade at Rs113,700 on Wednesday in the local market, Karachi Sarafa and Jewellers Group reported.
The price of 10 gram 24 karat also increased by Rs344 and was sold at Rs97,480 against its sale at Rs97,136 whereas that of 10 gram 22 karat increased to Rs89,356 from Rs89,042.
The price of per tola and ten gram silver remained constant at Rs1400 and Rs1200.27.
The price of gold in international market decreased by US$9 and was traded at US$1741 against its sale at US$1732.
Gold dealers believe that a price decline will boost demand for the precious commodity.
With wedding season drawing close, the demand for the yellow metal is slightly improving in the domestic market.
Dealers said that the market was witnessing an unusual phenomenon, as the rates of gold and stocks were also falling along with the rupee — usually, they perform inversely.
