KARACHI: Gold prices continued to remain under pressure hitting an all-time high of Rs67,800 per tola on Tuesday, up by Rs1,450.

First, the All Sindh Sarafa Association (ASSA) came out with increase of Rs850 per tola rate in the evening and then suddenly further raised by Rs600.

Similarly, the 10-gram rate was raised by Rs729, and then by Rs515 to Rs58,128.

Domestic rates were increased owing to $10 per ounce price hike in bullion rate in the world market to $1,250 per ounce. However, local exchange rate did not show any fluctuation on Tuesday.

The country’s gold imports slightly plunged to 209kg ($8.2million) during 5MFY19 from 219kg ($8.76m) in the same period of last fiscal year.

Jewellery exports in the last five months swelled to $2.5m from $1.64m in the corresponding period of last fiscal year, figures of Pakistan Bureau of Statistics stated.

Published in Dawn, December 19th, 2018