Gold scales new peak, nears Rs300,000 per tola

The price of one tola of gold reached closer to Rs300,000 on the back of all-time high international prices due to the looming uncertainty over the US trade war with China, Mexico, and Canada and its impact on various countries. Data released by the All Pakistan Sarafa Gem and Jewellers Association on Wednesday stated that the 10-gramme and one-tola rates (24kt) climbed to new all-time high peaks of Rs256,859 and Rs 299,600, up by Rs4,158 and Rs5,300, respectively, compared to Tuesday’s rates. International gold prices also swelled to an all-time high of $2,868 per ounce after a jump of $53 per ounce. All Karachi Jewellers and Manufacturers Association President Mohammad Haseen Qureshi said the rising prices were putting the buyers in a quandary whether to instantly buy jewellery or wait for the prices to fall.