Gold set new record of Rs162,500 after posting single-day gains The gold price on Thursday reached

The gold price on Thursday reached a historic high of Rs162,500 per tola after gaining Rs10,000 - a record one-day increase in the price of precious metal.

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After the new rise, the rates per 10 grams of gold went up to Rs139,318.

President Karachi Saraf and Jewellers Group (KSJG) Haji Haroon Rashid Chand, in a statement, tied the rise in the local market to a similar move in its international price. He said that in the international market on Thursday, the price of metal jumped by $31 an ounce to reach $1,721.

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He also said that the dollar bouncing to Rs240 against the rupee also increased gold rates.

Chand cautioned against a new rise in gold prices in the days ahead.

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