The price of gold surged by Rs3,000 in the local market on Monday amid continuous depreciation of the local currency against the dollar.

According to All Sindh Sarafa Jewellers Association, the price of gold settled at Rs156,000 per tola against its sale at Rs153,000 the previous day. The price of 10 gram gold increased by Rs2,572 and settled at Rs133,745.

The prices of gold are surging to the highest levels as the Pakistani rupee continued to sustain losses against the dollar.

The price of gold in the international market increased by $15 per ounce and was sold at $1732 against its sale at $1717.

Meanwhile, the price of per tola silver increased by Rs30 to Rs1,570 whereas that of ten gram silver went up by Rs25.72 and was sold at Rs1,346.02.