KARACHI, May 13: Gold prices touched all time high at Rs6,120 per 10 grams on Monday from previous Rs6,115 per 10 grams on April 27 due to rising trend in global markets.

Gold prices in global markets ranged between $311.40 and $312 per ounce on Monday as against $311 per ounce two days back. Some 15 days back, international gold prices were hovering between $307.50-$308 per ounce. In middle of April, international gold prices were $304-305 per ounce.

“We rely on rallies in international gold markets that is why domestic prices are bound to move both ways,” said president, Society Welfare Jewellers Association, Saeed Qureishi.

He said the markets lack any sizeable presence of buyers who are expected to return as the marriage season has just kicked- off.

But market analysts do not believe jewellers’ stereotyped argument that the market is facing a laggard buying session. As the marriage season has started, people, belonging to all income groups, have to manage gold jewellry for the bride’s financial security. It means there is some buying activity in the markets going on, they added.