| Updated at: 1509 PST, Wednesday, October 06, 2010|
KARACHI: The gold is burgeoning persistently in the international market, as the commodity hit a record high at $1348 up $8 per ounce in a single day, Geo News reported Wednesday.
The recent hike was caused by massive purchase of the yellow metal on the part of China and India. And, the price is still on the rise.
According to analysts, India is purchasing gold from the international market on mass level in view of its upcoming religious festivals.
The gold hike is having its due impact on the bullion markets in Pakistan as well, as tola price went up to Rs43,400 and ten grams of gold soared to record price of Rs37,300.