KARACHI: The price of gold appreciated by Rs850 per tola in the local market in line with the surge in the international bullion market.

According to Sindh Sarafa (Jewlers) Association, the price of gold settled at Rs141,850 per tola while the price of 10 grams of gold increased by Rs729 and settled at Rs121,614.

The recent increase in the bullion prices came after news that certain Western countries are planning to officially ban imports of the metal from Russia.

The price of gold appreciated by $6 per ounce and the commodity was traded at $1,833 per ounce in the global market.

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