Gold prices on Wednesday surged by Rs 1350 per tola to Rs 92500 on thee local market, traders said. The yellow metal is now selling for Rs 79304 per 10 grams, up by Rs 1158 and $1610 an ounce, up by $50 on the world market. Silver was available for Rs 1050 per tola, up by Rs 50, Rs 900.20 per 10 grams, up by Rs 42.87 and $18.38 an ounce, they added.

Pakistan imported 5 percent or $418,000 more gold to $9.168 million in July-Dec 2019-20 comparing to the import of yellow metal of $8.750 million in July-Dec 2018-19. In term of volume, the country's gold import was unchanged at 23 kilograms this fiscal year as well.

In Dec 2019, the country's import of gold was $1.775 million, which was 85.28 percent or $844,000 higher than import of the precious metal of $931,000 in Dec 2018. About 68 percent or 16 kilograms increase the gold import has witnessed to 39 kilograms in Dec 2019 from 23 kilograms in Dec 2018, Pakistan Bureau of Statistics shows.