Updated on
Summary Gold prices in local markets jumped to new level after its record surge at international markets.
Amid expected economic meltdown and stressed US economy, international investors appear to buy more gold. The prices of gold in international markets soared to record $1707 per ounce with an increase of $43 today (Monday). The implications of soaring gold prices in world market are also influencing the local gold markets.In local markets, the price of gold has reached Rs 54,850 per tola with the increase of Rs 1300.In international market, the price of gold struck a record high above $1,700 an ounce on Monday with dealers flocking to the safe haven metal as Asian stocks tumbled following Standard & Poors downgrade of US debt.The price of gold reached $1,704.30 an ounce in Hong Kong trade.
