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

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Reforming militants
24 Jul, 2024

Reforming militants

Such initiatives have been tried before, in Swat for instance, at centres run by the military as well as NGOs.
IPP debate
24 Jul, 2024

IPP debate

A FIERCE debate blaming the exorbitant electricity prices on expensive power purchase agreements with IPPs has been...
Political vendettas
24 Jul, 2024

Political vendettas

IT seems that the PML-N and PPP need to be reminded again that they are doing themselves a considerable disservice ...
Security concerns
23 Jul, 2024

Security concerns

All stakeholders want what is best for the country and its people; their differing approaches shouldn’t be viewed with such suspicion all the time.
Frankfurt vandalism
23 Jul, 2024

Frankfurt vandalism

THE state needs to seek serious answers from the German authorities regarding the July 20 mob attack targeting...
Stressed cotton economy
23 Jul, 2024

Stressed cotton economy

DECREASING cotton production should be a worry for the government because of its socioeconomic implications. Early...