Gold Rate in Pakistan Surges to All-Time High, Up 26% This Year

The price of gold in Pakistan surged to an all-time high mark on Wednesday after crossing the Rs. 277,000 level.   According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) rose by Rs. 2,200 per tola to Rs. 277,200, while the price of 10 grams was up by Rs. 1,886 to Rs. 237,654.      The previous all-time high price of gold in the local market was recorded on September 26, when the price hit Rs. 277,000 per tola. However, subsequently the price fell and remained range bound between Rs. 270,000 to Rs. 276,000 per tola.  In the international market, spot gold rose 0.6 percent to $2,676.63 per ounce, as of 0832 GMT, while the US gold futures were up 0.5 percent to $2,693.30.