Gold creates new record in domestic market

The price of gold shot up on Thursday after an increase of Rs1,100 per tola from the previous day in the domestic market.

According to the rates set by Sarafa and Jewelers Association, the new price of 24-karat of gold per tola rose to Rs203,500.

Similarly, the price of 10 grams of pure gold increased by Rs943 to Rs174,468.

In the international market, the price of gold increased by $2 per ounce to $1,926.

Earlier, Sarafa Bazaar Association Chairman Al Haj Haroon Rasheed Chand said speculators were artificially inflating the market amidst what he called was a phantom demand of excess gold.