KARACHI: Domestic gold price hit an all-time high of Rs164,200 per tola and Rs140,604 per 10 grams on Monday, showing a jump of Rs700 and Rs601 from Saturday despite a $4 drop in world market rate to $1,794 per ounce.

All Sindh Saraf and Jewellers Association (ASSJA) President Haji Haroon Rasheed Chand said the exchange rate fluctuations have been keeping the bullion rates under pressure.

He said due to high gold rates the jewellery sales remained depressed amid the ongoing peak marriage season.

On Jan 1, the one-tola and 10-gram of gold were priced at Rs126,200 and Rs108,196, respectively, while the yellow metal was trading at $1,830 per ounce on the international market. The dollar value was Rs177 in the interbank against the current rate of Rs223.91.

Published in Dawn, December 6th, 2022