Gold prices up Rs300 per tola to new high

KARACHI: Gold prices increased by Rs300 per tola on Wednesday in the local market to a record high.

The prices in the local market have reached to an all-time high with this increase. The All Sindh Saraf Jewellers Association stated that gold rates reached Rs261,000 per tola.

Similarly, the price of 10-gram gold rose by Rs257 to Rs223,765.Gold rates remained unchanged at $2,512 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 Rs3,500 per tola, compared with the international market.