KARACHI: Gold rates in Pakistan hit record high on Friday following the record rally in international market.
The rally got support on back of grim U.S. and European economic outlook, rising inflationary pressure and buying by the central banks of different countries to hedge themselves against the depreciation of U.S. dollar against other major currencies.
Gold prices in Karachi recorded an increase of Rs. 2,200 per tola to Rs. 60,600 on Friday. The price of 10 grams gold recorded at Rs. 51,942 with an increase of Rs. 1,885.
On the other hand, silver price also remained higher at Rs. 1,092.85 per 10 gram. Moreover, the London gold 1500-fix rate recorded at $ 1848.
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