Gold prices up Rs800 per tola to new record high

KARACHI: Gold prices increased by Rs800 per tola on Thursday in the local market, marking a new record high in the country.

The All Sindh Saraf Jewellers Association stated that gold rates reached Rs261,800 per tola.Similarly, the price of 10-gram gold rose by Rs686 to Rs224,451. Gold rates decreased by $8 to $2,504 per ounce in the international market. Silver rates remained unchanged at Rs2,950 per tola. Similarly, 10-gram silver rates also stood the same at Rs2,529.14.

Prices in the local market are adjusted by a premium of $20 against rates in the international market.Local jewellers claimed that looking at the weak purchasing power in the country, gold rates were lowered by Rs3,000 per tola, compared with the international market.