Gold rates hit new all-time high

KARACHI: Gold prices hit a record high of Rs141,650 per tola on Monday, tracking gains in the overseas markets, while a weak rupee supported the upside.

In the global market, rates increased by $15 to $1,862 per ounce. The 10-gram gold price also rose by Rs2,015 to Rs121,442. Silver rates also increased by Rs20 to Rs1,590 per tola.

The price of 10-gram silver also increased by Rs17.14 to Rs1,363.16. Higher local prices hurt business though gold rates are still Rs1,500 per tola less as compared with rates in the Dubai market, dealers said.