KARACHI: The per tola price of 24 karat gold reached to an all-time high at Rs93,400 after appreciating Rs2600 on Friday, as compared to Rs90,800 on last trading day, Karachi Sarafa Association reported.
Likewise, the price of 10 gram gold witnessed increase of Rs2340 and was traded at Rs80,075.
All Sindh Sarafa Jewellers Association’s (ASSJA) President Haji Haroon Rasheed Chand claimed that the latest increase in the gold price is due to rising tensions between the US and Iran.
International Prices
A gauge of Asian shares was toppled from an 18-month top as heightened Middle East tensions sent investors scurrying for the safety of gold, which hit a near seven-year high while oil jumped to four-month peaks.
The United States detected a heightened state of alert by Iran’s missile forces, as President Donald Trump warned the U.S. would strike back, “perhaps in a disproportionate manner,” if Iran attacked any American person or target.
Iraq’s parliament on Sunday recommended all foreign troops be ordered out of the country after the U.S. killing of a top Iranian military commander and an Iraqi militia leader.
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