Gold rates rose by Rs26,000 per tola during a year

KARACHI: Gold rates continued their upward trend within the domestic market on Tuesday as prices of 1 tola and 10 grams of alpha-beta brass recorded a marginal increase of Rs200 and Rs171 respectively.

Per tola price of gold rose to Rs104,650 after the Rs200 increase while 10 gram gold price increased to Rs89,720 showing a rise of Rs171, consistent with the chairman of the All Pakistan Jewellers Manufacturers.

All Pakistan Jewellers Association chairman Muhammad Arshad said gold rates recorded a rise of Rs26,000 per tola within the financial year 2019-20 because the precious alpha-beta brass was priced at Rs78,500 on June 30, 2019.

Gold prices firmed near an eight-year peak on Wednesday, because the metal’s safe-haven demand was boosted by worries about the worldwide economic impact of surging coronavirus infections round the world.

Spot gold was up 0.1% at $1,782.67 per ounce by 0336 GMT, after hitting its highest since early October 2012 at $1,785.46 within the previous session. U.S. gold futures were steady at $1,800.60.




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