In 2006-07, a 1 percent withholding tax was imposed on commercial imports of gold in the country. Photo: Express News
Gold prices in global and local markets have surged to record highs.
In the international bullion market, the price of gold per ounce jumped by $84, reaching a new peak of $4,039.
Read: Gold prices hit record highs globally, domestically
The price of gold per tola in Pakistan also rose by Rs8,400, hitting a new record of Rs425,178.
Similarly, the price of 10 grams of gold increased by Rs7,202, reaching a new high of Rs364,521.
Spot gold was up 1.3% at $4,034.59 per ounce by 0931 GMT. US gold futures for December delivery gained 1.3% to $4,056.80.
Silver also latched on to gold's rally, gaining 2.2% to $48.85 per ounce, and just a little away from its all-time high of $49.51.
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