Gold prices in the local market are on the rise amid inflation concerns and uncertainty over the IMF bailout package.

According to Sindh Sarafa Association, the price of the yellow metal increased by Rs 1,450 per tola and settled at Rs. 147,250 on Monday.

The gold price increased by Rs 1,243 per 10 grams and reached Rs. 126,243.

In the international market, the gold prices rose by $3 per ounce amid a weakening dollar as the dollar index eased from near its highest level in about two decades.

A weaker dollar makes safe-haven bullion attractive to investors.

Meanwhile, silver rates in the local market remained unchanged at Rs1,560 per tola. Silver’s per 10 grams rate stood at Rs1,337.44.