Gold and silver prices on Friday touched new peaks of Rs 47,550 per tola of gold and Rs 1620 per tola of silver on local market, traders said. Gold prices went up by Rs 50 per tola from Rs 47500 and Rs 43 per 10 grams to Rs 40757 from Rs 40714, traders said, adding that internationally the price of gold, however, declined to $1505 from $1508 an ounce.
Silver price also surged to Rs 1620 per tola from Rs 1600, while per 10 gram it increased to Rs 1388.57 from Rs 1371.14, trades added. "The new increase in the prices of yellow metal and silver increased local sales by 65 percent for gold and 100 percent silver on the local market," said President of All Karachi Jewellers Group, Haroon Chand. He attributed the increase in gold and silver prices to global economic and political issues.
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