All Sindh Saraf and Jewellers Association (ASSJA) announced an increase of Rs800 per tola after gold price shot up $13 to $1,394 per ounce in the London market on Friday. “Jewellers have not only passed the increase in international gold prices on to domestic consumers, but they have also incorporated the impact of rupee depreciation against the US dollar into retail prices,” an officer-bearer of ASSJA said. Gold touches new peak at Rs70,300 per tola“Gold has surged around $100 per ounce in the past 20 days in the world market,” Rays Commodities Chief Operating Officer Adnan Agar told The Express Tribune. In case investors opt for profit-booking, gold will sustain the $1,350-1,360 per ounce level. Gold touches new peak at Rs72,200 per tolaHowever, the short to medium-term outlook of the commodity is bullish.

Source: The Express Tribune June 22, 2019 04:18 UTC