KARACHI: The local gold prices on Wednesday continued to hit the new highs as the speculative trading has slowed down the commodity sales, traders said.

Inching up by Rs300 and Rs257, gold prices reached the new record highs of Rs261, 000 per tola and Rs223, 765 per 10 grams, respectively.

On the world market, gold bullion prices stood firm at the peak levels of $2, 512 an ounce with silver continuing to sell at $30 an ounce, traders said.

Domestically, silver prices also remained steady at Rs2, 950 per tola and Rs2, 529.14 per 10 grams, traders added.

“Market offers little for sales but demands more buying as the speculative trading shrouds the gold future,” traders said that there is an anticipation for gold to hit Rs280, 000 per tola.

Copyright Business Recorder, 2024