Gold Price in Pakistan Nears All-Time High After Another Big Increase

The price of gold in Pakistan continued its surge towards the all-time high mark, posting an increase of Rs. 2,800 per tola on Monday. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) increased by Rs. 2,800 per tola to Rs. 237,600, while the price of 10 grams increased by Rs. 2,401 to Rs. 203,704. The recent increase in the price of gold, driven by an increase in international gold prices, has seen the precious metal surge by Rs. 19,100 tola during the month of March. If the trend continues, the price of gold will soon breach the all-time high of Rs. 240,000 per tola. Gold prices extended their record run in the international market as well today with spot gold up 0.7 percent at $2,247.48 per ounce as of 1059 GMT, while the US gold futures rose 1.3 percent to $2,268.10.