Gold posted a mammoth increase of Rs 20,600 per tola to Rs 88,400 during 2019 comparing to its value of 67,800 per tola in 2018 on the local market, traders said on the eve of 2020.

Gold on the end of 2019 closed for Rs 75, 790 per 10 grams scaling up from Rs67800 in 2018. On the world front, the price of yellow metal grew by $238 an ounce from $1284 in 2018 to $1522 on Dec 31, 2019.

Silver surged to Rs1070 per tola in 2019 from Rs880 in 2018 up by 190 on the local market, Rs917 per 10 grams in 2019 from Rs880 up by Rs162.90 and $18.05 an ounce in 2019 from $15.48 up by 2.57 on the world market, traders added.

The country imported gold less by 5 percent or $376,000 to $7.443 million in July-Nov 2019 from $7.819 million in July-Nov 2018, Pakistan Bureau of Statistics shows.

In term of quantity, the country's gold import stood at 183 kilograms in July-Nov 2019 comparing to its import of 200 kilograms in July-Nov 2018, depicting a fall of 9 percent or 17 kilograms.

In Nov 2019, gold import was $1.796 million up by 2 percent or $31000 from $1.765 million in Nov 2018. Import volume of gold declined to 43 kilograms in Nov 2019 from 45 in Nov 2018, indicating a fall of 4.44 percent or 2 kilograms.