Gold price on Thursday further surged up to Rs 16,285 per 10 grams due to increase in its international price, which reached 825 dollars per ounce, traders said. With the latest price increase the gold was now being sold in the local market at Rs 16,285 per 10 grams as against the earlier price of Rs 16,028 per 10 grams, up by Rs 257.
As a result, gold per tola price went up to Rs 19,000 from Rs 18,850. In the world market, gold price mounted to 825 dollars per ounce from 813 dollars per ounce with an increase of 12 dollars.
Traders said that increasing oil price in the world market due to the fresh Turkish military attacks on Kurds in Iraq was behind this recent escalation in gold price. They said that they would not resume trading activities on Friday due to a assassination of the former prime minister and Chairperson of Pakistan Peoples Party (PPP) Benazir Bhutto in Rawalpindi on Thursday.