In 2006-07, a 1 percent withholding tax was imposed on commercial imports of gold in the country. Photo: Express News
Gold became more expensive in both international and local markets on Monday. In the global bullion market, the price of gold increased by $13 per ounce, reaching $4,015.
As a result, the price of 24-carat gold in Pakistan rose by Rs1,300 per tola, now standing at Rs423,862.
Similarly, the rate for 10 grams of 24-carat gold increased by Rs1,115, reaching Rs363,393 in local markets.
Alongside the rise in gold prices, silver prices also saw an uptick. The rate per tola of silver increased by Rs25 to Rs5,152, while the price for 10 grams went up by Rs22 to Rs4,417.
Read: Gold prices dip as US-China trade talks influence markets
Spot gold was up 0.5% at $4,020.45 an ounce by 0905 GMT. US gold futures for December delivery rose 0.9% to $4,031.50.
Elsewhere, spot silver rose 0.5% to $48.90 an ounce, platinum climbed 2.2% to $1,601.90 and palladium gained 1.3% to $1,452.58.
On Saturday, Gold prices in the international bullion market fell by $16 per ounce to reach $4,002, which also impacted local markets.
The price of 24-carat gold per tola dropped by Rs1,600 to Rs422,562, while the price per 10 grams fell by Rs1,372 to Rs362,278.
Read more: Gold shines again as global prices surge $53 per ounce
Similarly, the price of silver per tola decreased by Rs65 to Rs5,127, and the price per 10 grams fell by Rs56 to Rs4,395.
