Gold hits record Rs134,300 per tola

KARACHI: Gold prices in Pakistan on Thursday reached an all-time high of Rs134,300 per tola and Rs115,141 per 10 grams, up by Rs1,500 and Rs1,286 compared to Wednesday.

However, the international gold rate inched up by only $1 to $1,927 per ounce. However, the persistent rupee devaluation against the dollar had kept the domestic gold rates under pressure, All Pakistan Jewellers Manufacturers Association (APJMA) Chairman Mohammad Arshad said.

He said investors are active in lifting gold. However, jewellery sales are slow due to Ramazan and may pick up pace in the last week ahead of the start of marriage season after Eidul Fitr.