Gold continues to soar

KARACHI: Gold rates in the local market rose by Rs700 per tola on Monday to reach another all-time high level in the country despite a decline in the international market.

According to data released by All Sindh Saraf Jewelers Association, gold rates in the local market moved up to Rs136,600 per tola. Jewelers said prices increased in the local market on depreciation of the rupee that reached the lowest level of 194 against the dollar on Monday.

Similarly, 10-gram gold price also rose by Rs600 to Rs117,112. In the international market, however, gold rates decreased by $14 to $1,799 per ounce. Silver rates remained unchanged at Rs1,560 per tola. The price of 10-gram silver also stood the same at Rs1,337.44.