Pervez Saleem (Producer/Director)

Gold creates new all-time high of Rs162,500 after making record single-day gains

Courtesy: Dawn News

The price of gold on Thursday reached an all-time high of Rs162,500 per tola after gaining Rs10,000 — a record single-day hike in the price of the metal.

After the fresh hike, the rates for 10 grams of gold have soared to Rs139,318.

President Karachi Saraf and Jewellers Group (KSJG) Haji Haroon Rashid Chand, in a statement, linked the hike in local market to similar movement in its international price. He said that in global market on Thursday the metal’s price surged by $31 dollars per ounce to $1,721.

He also said that dollar surging to Rs240 against rupee also triggered the sharp movement in gold rates.

Chand warned of further hike in gold prices in days to come.

“A fixed tax of Rs40,000 has been imposed on us by the FBR and we will not pay these tax as we cannot afford due to soaring inflation.”

He demanded the government to withdraw the fixed tax and hold talks with traders in view of spiraling cost of bullion, saying “the purchasing power of the masses has drastically reduced due to rising prices.”

Sada-E-Watan provides news and opinion articles as a service to our readers. These articles and news items come from sources outside of our organization. Where possible, the author and the source are documented within each article. Statements and opinions expressed in these articles are solely those of the author (reporter/newspaper) or authors (reporters/newspapers) and may or may not be shared by the staff and management of Sada-E-Watan. Sada-E-Watan was created to provide one convenient central location where a user can quickly scan headlines from many news sources. The headlines listed on Sada-E-Watan pages are links to stories on the sites where these stories are located. The goal of Sada-E-Watan is to help readers access stories on web sites that they would normally not have time to view on a regular basis and to add value to the news source sites by mentioning their name on top, so readers can view these sites..

The Sada-E-Watan takes no responsibility for any loss or damage suffered as a result of using the linked websites or as a result of using the information published on any of the pages of the linked websites.

Whilst every effort is made to ensure downloadable content is free from viruses, Sada-E-Watan cannot accept any liability for damages resulting from virus infection. You should take adequate steps to ensure your virus check regularly when using any device.

If you have any questions or comments about Sada-E-Watan, please contact us at: