Gold rates up Rs800/tola

KARACHI: Gold prices in the local market continued upward momentum and rose Rs800/tola on Thursday to an all-time high of Rs129,500/tola.

According to the data released by the All Sindh Saraf Jewellers Association, 10 grams gold price raised Rs685 to Rs111,025.

In the international market, bullion rates increased $9 to $2,050/ounce.

However, price of silver also increased Rs20 to Rs1,650/tola. Rate of 10 grams silver moved up Rs17.14 to Rs1,414.60. Local jewellers claimed the gold price in the local market remained Rs1,000/tola lower, compared with the gold rates in the Dubai market.

A jeweller said gold prices in the local market increased because of a rise in the international market.