Gold hits Rs 90,000 per 10 gm in Pakistan

Karachi, Aug 29 (IANS) Gold prices in Pakistan hit a record high of Rs 90,000 per tola (10 gram) on Thursday in several cities, including Karachi, Lahore, Islamabad, Rawalpindi, Peshawar, Faisalabad and Quetta.

The 24-karat gold jumped by Rs 900 to trade at Rs 90,000 per 10 gram against Wednesday's closing price of Rs 89,100 per tola, according to the Karachi Sarafa Association.

In the international market, the price of the yellow metal increased by $15 per ounce and was trading at $1,545 against the last closing price of $1,530.

According to the All Pakistan Sarafa Association, trade war between China and the United States of America has impacted the world economy in a big way.

The devaluation of Pakistani rupee also contributed to the gold price rise, it said.

In India, gold was selling just a shade below Rs 40,000 per 10 gram on Thursday in markets across the country.

--IANS

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