Gold on Monday surged to a new record peak of Rs 20,657 per 10 grams after its price in the world market rise to 10,024 an ounce on the back of weak dollar and slowing US economy indications, traders said. The yellow metal's per tola price also touched the historic mark of Rs 24,100 from Rs 23,100, traders said.
They said that gold in the local market is being sold under cost by Rs 200 per tola. Sales of the gold jewellery are down, however investors are taking interest in this sector, said Horoon Chand, President All Sindh Sarraff and Jewellers Association.
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