ISLAMABAD : Gold prices are again witnessing an upward trend due to global cues after nose-diving in recent times and the fresh price of 24K per Tola gold is Rs54,600. According to the fresh price list of Karachi Saraf Jewelers Association the price of 10 grams 24K gold is Rs46,800 while the price of 10 gram silver is Rs780. Prices of these commodities in other cities are almost similar. According to experts, the gold prices are expected to raise further due to global cues.

In the neighbouring country India, gold price hit its all-time high of Rs32,933 per 10 grams on Tuesday on sustained buying as the country’s currency plunged to its new record low of 66.07 against the US dollar. Market participants also enlarged their positions in line with a firming trend overseas. Gold price in overseas markets, which normally set price trend on the domestic front, held above USD 1,400 an ounce Tuesday, hovering near its highest in 11 weeks, supported by weak US data that traders hoped could stymie the US Federal Reserve’s plan to taper its stimulus measures this year.