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.
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.