KARACHI: The world and local gold markets on Saturday grew to the new record highs, as the global bullion value rallied to $2350 mark, traders said.

At the week close, gold prices reached the historic heights of Rs245100 per tola and Rs210134 per 10 grams, shooting up by Rs4900 and Rs4200, respectively.

After the international market soared to the recent new highs, the bullion value settled for $2350 per ounce, up by $44.

“It is the all-time high. Both the local and international markets are the all-time highest today,” Abdullah Razzaq, spokesman for All Pakistan Gems and Jewellers Association, said.

The local market further adds a $20 premium to the overall gold price for the domestic deals in a bid to overcome the speculative bullion trade.

Silver was however available for the unchanged Rs2650 per tola and Rs2271.94 per 10 grams with the global value hovering at $27.54 per ounce, traders added.

Copyright Business Recorder, 2024