Karachi: Gold price surged in line with increase in international rates. In local market, price of gold per tola increased by Rs 2,200, clocking in at Rs 277,200 per tola, which is latest record high in Pakistan.

Similarly, ten gram gold was sold at Rs 237,654 after it recorded an increase of Rs 1,886 per ten gram, according to rates shared by All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). Meanwhile, international rate of gold increased on Wednesday. As per APGJSA, rate was at $ 2,675 per ounce (with premium of $20) and was up by $ 22 during day. Silver prices remained stable at Rs 3,050 per tola. Investors looked forward to US retail sales, industrial production and weekly jobless claims data, due on Thursday, for fresh cues on Fed’s monetary easing cycle.