Gold hits Rs141,650 per tola

KARACHI: One tola and 10 grams of domestic gold prices on Monday hit a new high at Rs141,650 and Rs121,422, respectively, up by Rs2,350 and Rs2,015 from Saturday, rates released by the Karachi Saraf and Jewellers Group revealed.

A $15 increase in world gold prices to $1,862 per ounce, followed by a rupee depreciation against the dollar, had pushed local prices to a new high.

President All Pakistan Jewellers Manufacturers Association, Mohammad Arshad claimed that people are more focused on investing in small gold bars in anticipation of a further jump in local prices, while jewellery sales have remained depressed despite the on-going marriage season.