The price of gold surged by Rs1,300 to hit Rs221,500 per tola in the domestic market of Pakistan.

Similarly, the price of gold 10 grammes recorded an increase of Rs1,115 to clock in at Rs189,901 in the local market.

Meanwhile, the gold bullion witnessed a decline of $4 in the international market to reach $1,300 per ounce on Monday.

The latest surge in the price of the precious metal came after the rupee continued to take battering in both interbank and open markets.

The local currency recorded a decline of 46 paisas against the dollar which was trading at Rs287.43 at the closing of the interbank market.

At the open market, the foreign currency surged by Rs2 to reach Rs294.