After a slight decline on Wednesday, the price of gold in Pakistan surged to a new all-time high on Thursday as international prices rose.
According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) rose by Rs. 800 per tola to Rs. 268,500, while the price of 10 grams climbed by Rs. 658 to Rs. 230,195.
The price of gold hit a record high of Rs. 268,000 per tola on Monday before easing slightly on Wednesday. Today’s surge means that gold breached the record-high mark for the second time in three sessions this week.
In the international market, gold prices were steady today after hitting a record high in the previous session, after the US Federal Reserve delivered a higher-than-expected interest rate cut.
Spot gold was largely changed at $2,562.85 per ounce as of 0319 GMT after scaling a record high of $2,599.92 on Wednesday. However, the US gold futures were down 0.4 percent to $2,587.40.
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