Gold Price in Pakistan Climbs Again to Reach Record High

The price of gold in Pakistan continued its record-breaking run for the fourth straight day on Friday to hit a new all-time high. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) went up by Rs. 200 per tola to climb to Rs. 262,800, while the price of 10 grams increased by Rs. 172 to Rs. 224,623. This is the fourth straight day that the price of the precious metal has hit a new all-time high after setting records on Tuesday, Wednesday, and Thursday. The Sarafa Association said that the price of gold in the local market has been kept Rs. 2,000 per tola below its actual cost, a cut of Rs. 1,000 per tola from the discount offered yesterday. In the international market, spot gold was up 0.7 percent to $2,500.83 per ounce by 1219 GMT, while the US gold futures rose 0.8 percent to $2,536.50.