Gold hits all-time high of Rs106,000 per tola

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KARACHI: Gold prices hit an all-time high of Rs106,000 per tola in the domestic market on Monday, ARY News reported.

According to the details, the per tola price of yellow metal rose by Rs 1,100 to Rs106,000 while the 10-gram gold rate increased by Rs 943 to trade at Rs 90,877, according to All Pakistan Jewellers Association

The increase in domestic gold prices was attributed to $7 per ounce rise in world gold rate to $1,784.Spot gold rose 0.5% to $1,783.75 by 1:41 p.m. EDT (1741 GMT). U.S. gold futures settled up 0.2% at $1,793.50 per ounce.Earlier on July 2, gold price had hit an all-time high of Rs105,200 per tola in the domestic market.

The per tola price of yellow metal had risen by Rs700 to Rs105,200 while 10 gram gold rate had risen by Rs600 to trade at Rs90,192.

On June 24, the domestic per tola and 10-gram price had soared to Rs105,100 and Rs90,106 respectively.

According to All Pakistan Jewellers Association chairman Muhammad Arshad, per tola price of gold had recorded an increase of more than Rs26,000 per tola in the fiscal year 2019-20 as the precious yellow metal had been priced at Rs78,500 on June 30, 2019.

ARY News