Gold Rate in Pakistan Climbs to Near All-Time High

The price of gold in Pakistan rose on Wednesday as it neared the record-high mark once again. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) increased by Rs. 1,200 per tola to Rs. 253,500, while the price of 10 grams was up by Rs. 1,029 to Rs. 216,306. Yesterday, the price of the precious metal declined by Rs. 400 per tola in the local market while the price posted a slight increase of Rs. 200 per tola on Monday. In the international market, spot gold rose 0.7 percent to $2,424.02 per ounce, as of 0632 GMT, while US gold futures were up 0.5 percent to $2,421.90.