The prices of gold continued to rise as domestic one tola and 10 gram prices rose to a new high of Rs 78,100 per tola and Rs 66,958 per 10 grams respectively.
Meanwhile, international bullion prices surpassed $1400 before retreating again, still holding a six year high on the US central bank’s dovish stance on monetary policy.
Dealers also justified the increase in local gold prices pointing to the bullish rally in international prices which have risen $1,283 per ounce on Jan 1 to $1,400 now.
All Sindh Sarafa Jewellers Association (ASSJA) increased prices of per tola and 10-gram by Rs1,800 and Rs1,152 after a massive jump of $28 per ounce on the world markets.
Consumers have also decreased their spending on gold jewellery and moved towards artificial and silver jewellery for marriage and other festivities in the ongoing wedding season as prices continue to rise.
