Gold prices surge, reach Rs 96,300 per tola in Pakistan
KARACHI: According to Jewellers Association of Sindh, gold prices in Pakistan reached an all-time high of Rs 96,300 per tola.
Gold moved up by Rs 2000 entering the local market at Rs 96.300 per tola.
Likewise, it increased the price of 10 grams of gold by Rs 1715 and touched Rs 82,562.
Gold prices on the local market rose as a result of the rise on the international market, where yellow metal traded at $1684 with an increase of $40 per ounce Monday.
The local bullion market continued its bullish trend, as the gold price rose Rs650/tola on Saturday to hit a record high of Rs94,300/tola.
According to data released by the All Sindh Saraf Jewellers Association, local market gold prices increased as a result of a increase in international market rates. Similarly, the price of ten grams of gold increased Rs557 to Rs80,847.
Bullion prices on the international market were up $9 to $1,644/ounce.
A jeweller said the international market reported price increases due to stockers buying gold in the midst of trade issues created after coronavirus emerged.