Gold prices rise Rs1,950/tola

KARACHI: Gold rates increased Rs1,950/tola in the local market on Wednesday. According to the data released by the All Sindh Saraf Jewellers Association, bullion rates in the local market rose to Rs94,100/tola; following a surge in the rates in the international market.

Similarly, 10 grams gold price raised Rs1,671 to Rs80,675. In the international market, gold rates surged $42/ounce to $1,638/ounce.

A jeweller said international market showed an increase in the prices because stockers were purchasing gold, amid panic created after the emergence of the coronavirus. Jewellers said prices in the local market remained Rs1,000/tola lower, compared with the rates in the Dubai gold market, as purchasing power remains low in Pakistan.