Monday, September 28, 2020 11:23

Gold Sets New Highest Price 57,000 Tola

Posted by on Wednesday, August 10, 2011, 6:42
This news item was posted in Business category and has 0 Comments so far .

gold_jewelryKARACHI: Escalating domestic gold prices reached fresh peak in Tuesday trade on the back of buying frenzy triggered by United States and European debt woes, weakening dollar and investment shifting from equities to gold.

Prices of 10-gram gold shot up further by Rs1,843 to Rs48,857, while its tola (11.6gms) prices surged by Rs2,150 to reach all time high of Rs57,000.

Gold has become costlier by Rs3,450 a tola in just two days.

“Frantic investors have focused gold as the safe haven,” said a commodity expert, adding that equities’ investors are shifting towards gold to keep their capitals safe from further melt down.

“United States is not likely to regain its top AAA rating and this has fanned concerns the world’s economic situation is not going to improve in near future,” he explained.

You can leave a response , or trackback from your own site .

No Responses to “Gold Sets New Highest Price 57,000 Tola”

Leave a Reply