Gold Price in Pakistan Hits New Record High After Another Big Increase

The price of gold in Pakistan broke all previous records on Wednesday to hit a new record high.  According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) rose by Rs. 2,300 per tola to Rs. 264,000, while the price of 10 grams climbed by Rs. 1,972 to Rs. 226,337.  Today’s increase took the price of the previous metal past its previous record high of Rs. 263,700 per tola recorded last month.  In the international market, gold prices rose on Wednesday as the dollar eased, with traders’ shifting attention to key US inflation data that may influence the Federal Reserve’s next policy decision.  Spot gold climbed 0.2 percent to $2,524.54 per ounce as of 0842 GMT, while the US gold futures were up 0.4 percent to $2,553.80.