Gold hits peak, at Rs 37,850

The trend of increase in gold prices continued in local and international markets as gold hit record high of Rs 37,850 per tola in Pakistan on Wednesday.Gold prices surged to Rs 37,850 per tola, up Rs 200 whereas price of 10 grams increased to Rs 32,443, up Rs 172 in local markets including Karachi. In international markets, gold price increased by $6 per ounce to reach $1177. The continuous decline of dollar value is causing surge in gold buying and the prices are increasing.