AZHAR ALI KHAN
Gold broke all previous records and reached Rs43,000 per tola mark in late Tuesday trade, traders said.
The yellow metal got appreciated by Rs429 and reached Rs36,857 per 10grams, while a tola (11.6grams) prices were up by Rs500 to Rs43,000.
Seniors traders were of the view that the depreciating currencies worldwide has encouraged gold to set a new record.
"Investments in gold has considerably increased during the past few weeks after the investors had started looking for safe havens," said a local bullion trader.
They said that per tola gold has become costlier by Rs3500 during the past one month.
"Another factor which is behind skyrocketing local gold prices is the depreciating rupee and strengthening dollar," he elaborated.
