Gold prices climb to an astounding Rs 89,000 per tola

Gold price is continuously rising in the country and the current price of the yellow metal stands at Rs 89,000 per tola after an increase of Rs 600 per tola.

Per tola gold in Lahore, Peshawar, Quetta, Gujranwala, Multan, Faisalabad, Karachi, Hyderabad, and other sarafa markets were sold at Rs 89,000. The jewelers association said a record increase of Rs 34,650 per tola in the price of the glittering metal was witnessed this year.

The gold price was raised by Rs 100 per tola yesterday torching the new price to Rs 88400 per tola. The domestic gold price was up by Rs150 to touch an all-time high of Rs88400 per tola on August 16.10-gram price of gold went up by Rs128 to reach Rs75788.

According to Pakistan Jewellers Association (PJA) chairman Muhammad Arshad, the domestic gold price has been showing an upward trend because of an increase in the gold price in the global market, which has now reached $1515 per ounce.