Business

Gold prices cross Rs45,000 mark

Gold prices reached a fresh peak on Saturday owing to a volatile international bullion market.

Faryal Najeeb December 04, 2010

KARACHI: Gold prices reached a fresh peak on Saturday owing to a volatile international bullion market. The precious yellow metal stood at Rs38,717 per 10 grams at the close of market on Saturday, while per-tola (11.7-gram) price increased to Rs45,170.

The previous peak had been touched just three days earlier on Wednesday, when gold prices rose to Rs38,271 per 10 grams and Rs44,650 per tola.

President All Sindh Sarraf Jewellers Association, Haroon Rashid Chand said gold prices were expected to rise further.

The market has picked up some momentum in recent weeks due to the wedding season, before Muharram commences next week.

The international gold market had risen through the $1,400 per ounce mark to a fresh three-week high on Friday and closed at $1,414 as the dollar continued to drop following bearish US jobs data and a stronger euro.

Published in The Express Tribune, December 5^th, 2010.

COMMENTS (1)

suresh | 13 years ago | Reply sir really i dint understand wat u mentioned in tiz article... 10grams of physical gold is at RS.21000/- but u have mentioned here as RS.38500/- . I request u to check the updates and publish the article..

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