In 2006-07, a 1 percent withholding tax was imposed on commercial imports of gold in the country. Photo: Express News
Gold prices have once again begun to climb in both international and local markets.
In the international bullion market, the price of gold increased by $16 per ounce, reaching $4,214. Spot gold rose 0.3% to $4,209.43 per ounce by 0851 GMT, while US gold futures for December delivery slipped 0.1% to $4,239.40 per ounce.
Read: Gold prices rebound after three-day decline as global market strengthens
Silver was up 0.3% at $58.43 per ounce, after hitting a record high of $59.32 on Friday.
Following the global uptick, the price of 24-karat gold in the local market on Monday rose by Rs1,600 per tola, hitting Rs443,762.
Read More: Gold prices rebound after three-day decline as global market strengthens
The price of 10 grams of gold increased by Rs1,372 to Rs380,454.
Similarly, silver prices climbed in the local market, with per tola rates rising by Rs30 to Rs6,102, and 10 grams going up by Rs26 to Rs5,231.
On Dec 5, the increase in global rates translated directly into the domestic market. In local bullion markets, the price of gold per tola climbed by Rs3000, reaching Rs444,462.
Similarly, the price of 10 grams of gold rose by Rs2572, settling at Rs 381,064.
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