KARACHI: The one-tola and 10-gram gold rates surged by Rs3,900 and Rs3,344 to hit historic highs of Rs178,800 and Rs153,292 after the yellow metal jumped by $12 to $1,808 per ounce on the world markets on Tuesday.

The rates of Rs126,300 and Rs108,196 based on $1,830 prevailing on Jan 1, the domestic prices have risen by Rs52,600 per tola and Rs45,096 per 10-gram, respectively.

However, the rupee depreciated to Rs225.12 in the interbank market since Jan 1 when the greenback rate stood at Rs178.

All Pakistan Jewellers Manufacturers Association chairman Mohammad Arshad said that investors in the world market were lifting the yellow metal after a drop in world oil prices.

Published in Dawn, December 21st, 2022