Gold prices again gained strength after declining by over Rs4000 per tola a day earlier in the local market.

According to the Sindh Sarafa Association, the price of per tola gold increased by Rs900 and settled at Rs141,600 while the price of gold reached 121,400 per 10 grams after increasing by Rs772.

The increase in the prices of gold came after Finance Minister Miftah Ismail announced Rs40,000 fixed tax on gold shops, saying that the measure was part of the government’s initiative to bring the retail shop owners under the tax net.

The price of gold in the international market decreased by $7 and was sold at $1,824 against its sale at $1,831, the association reported.

Meanwhile, the price of per tola and ten-gram silver remained stable at Rs1,560 and Rs1,337.44 respectively.