Gold hits record high of Rs 32600 per tola

Increase in gold prices was recorded in local and international markets. Gold price has reached at the highest level of 1,058 dollars per ounce in the world market. Due to the news about decrease in dollar value, buying was witnessed in the gold markets. Gold price closed at $1,058.38 per ounce with an increase of $10.80 per ounce in New York. Analysts say investment in gold markets seems to be safest now. It is expected in the current economic situation that gold price may reach 2,000 dollars per ounce in the coming decade. The surge in international markets caused increase in gold prices in Pakistan as gold reached highest level for the first time. Gold prices on Thursday surged to Rs 32,600 per tola, up Rs 195 whereas price of 10 grams rose to Rs 27,942, up Rs 166 in the local market, traders said.