Gold price continued to soar in the local market as the local currency sustained losses against the US dollar in the inter-bank market and depreciated by 0.4% on Monday.

According to All Sindh Sarafa Jewellers Association, the price of gold witnessed an increase of Rs2,400 per tola on Monday and was sold at Rs148,100, while the price of 10 gram gold increased by Rs2,258 and was sold at Rs126,972.

The price of gold in international market remained unchanged and was sold at $1,714.

The gold price held above the key $1,700 per ounce level on Monday, as hopes that the Federal Reserve might slow the pace of rate increases after mixed U.S. jobs data helped offset pressure from a robust dollar.

Meanwhile, the price of per tola and ten gram silver remained constant at Rs1,480 and Rs1,268.86 respectively in the local markets.