Gold shines at new peak near Rs250,000 per tola

A $20 per ounce jump in world gold rates on Tues­day pushed the local 10-gram and one-tola prices to new all-time highs of Rs214,077 and Rs249,700, respectively, up Rs2,057 and Rs2,400 from Monday. As per rates issued by the All Sindh Saraf and Jewellers Association (ASSJA), the international gold price swelled to $2,391 per ounce, an all-time high amid escalating tension after the Iranian attack on Israel. The massive increase in domestic gold rates might create problems for families that had opted to wait to buy finished jewellery sets and ornaments after Eidul Fitr, as the marriage season begins after Ramazan. Market analysts offered a different views whether people are investing in gold or testing other investment options amid fear of further price hikes, given geo-political tensions.