Gold Price in Pakistan Breaks All Previous Records to Climb to Record High

The price of gold in Pakistan surged to an all-time high on Tuesday after an increase of Rs. 1,200 per tola. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) rose by Rs. 1,200 per tola to hit Rs. 257,700, while the price of 10 grams was up by Rs. 1,029 to Rs. 220,936. The previous all-time high price of the precious metal in the local market was recorded on August 02, when the price touched Rs. 257,300 per tola. However, gold prices dropped slightly last week. In the international market, spot gold dropped 0.4 percent at $2,461.75 per ounce by 1052 GMT. However, it is pertinent to mention here that gold prices climbed 1.7 percent to $2,472, a record high for the closing price, on Monday.