KARACHI: Rising price trend in the world market continued to put pressure on local gold rates which reached another all-time high of Rs129,500 per tola and Rs110,025 per 10-grams on Thursday, up by Rs800 and Rs685 from Wednes­day, respectively.

All Sindh Saraf Jewel­lers Association (ASSJA) quoted nine dollars per ounce jump in international to $2,050.

Reuters adds: Gold extended its record-breaking run on Thursday, driven by expectations of more monetary response as surging virus cases continue to pummel the US economy.

Spot gold hit an all-time high of $2,069.21 per ounce and was up 1 per cent at $2,059.45 at 11:02 am EDT (1502 GMT). US gold futures also rose 1pc to $2,069.40.

Published in Dawn, August 7th, 2020