Gold prices in Pakistan increased on Tuesday, with per tola prices rising by Rs900. The price of 24-karat gold rose by Rs900 to Rs213,000 per tola, the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) said. The price of 10 grams of gold also increased by Rs771 to Rs182,613.
Meanwhile, gold prices in the international market fell by $7 to $1,991 per ounce.
On Monday, the State Bank of Pakistan (SBP) decided to keep its benchmark interest rate, the cost of bank lending, at 22%. This announcement came after a meeting of the bank's Monetary Policy Committee (MPC), which decided to maintain the policy rate at 22%.
In a statement, the MPC emphasized the need to continue with the tight monetary policy stance and reiterated that the "real policy rate is significantly positive on a forward-looking basis to bring inflation down to 5-7% by end-FY25."
