Gold price rises by Rs2,800 per tola in line with global trend
KARACHI: (Suno News) The per tola price of 24-karat gold has increased by Rs2,800 in Pakistan following an increase in the price of yellow metal in the global market.

 According to All Pakistan Jewelers Association, the price of gold per tola has now reached Rs237,600.

According to business market, the gold price will increase further due to yesterday’s hike in petrol price across the country.

The price of 10-gram gold has also increased by Rs2,401 in the country after which 10-gram gold has reached at 230,704.

According to the association, an increase in the price of gold has also been seen in the global exchange market, with the gold price increasing by $24 to $2,211 per ounce.

Gold price opens today’s trading with strong bullish rally to surpass our waited target at 2250.00$ and settles above it, reinforcing the chances of continuing the bullish trend on the intraday and short-term basis.

It opened the way to achieve additional gains that reach 2300.00$ barrier as a next main station. Breaking 2257.00$ will put the price under negative pressure to head towards testing the support base formed above 2222.86$ before any new attempt to rise.

On Sunday, the price of petrol moved up by Rs9.66 per litre and reached at Rs289.41 per litre for the next 15 days, as per a notification issued by the Finance Division.

The government had to increase the petrol price after International Monetary Fund had asked it to impose 18 percent General Sales Tax (GST) on fuel products.

On the other side, the government decreased the price of high speed diesel (HSD) by Rs3.32 a litre. The new price of diesel is now Rs282.24 per litre, according to the notification.

It revises petroleum prices every fortnight in accordance with global prices.