KARACHI – Gold rates in Pakistan registered whooping gains on Wednesday amid upward trend in international market.
According to local jewelers association, the precious commodity has increased for third consecutive day of the running week. It said the per tola gold priced hiked by Rs4,250 to settle at Rs287,450.
The price of 10-gram gold surged by Rs3,642, with new rate fixing at Rs246,440 in domestic market.
The yellow metal also recorded significant gains in international market as per ounce price surged by $40 to $2,751.
A day earlier, the price of per tola gold increased by Rs300 to close at Rs283,200 while the price of 10 grams of also increased by Rs 257 to Rs242,798.
However, the prices of per tola and ten gram silver in Pakistan remained unchanged at Rs3,372 and Rs2,890 respectively.
Meanwhile, Pakistan has agreed terms for $1 billion loan with two Middle Eastern banks at a 6-7 percent interest rate, Finance Minister Muhammad Aurangzeb told international media.
“With two institutions we have now gone forward in signing up the term sheet – one bilateral and one for trade (finance),” Aurangzeb said during an interview on the sidelines of the World Economic Forum annual meeting in Davos,
The loans were short-term- or up to one year, he said, adding that Pakistan aims to boost its finances after securing a $7 billion International Monetary Fund (IMF) bailout in September 2024, with the first review set for late February.
