Gold hits 5-month high on escalating global tensions.


Gold once again came into the limelight on Friday as it soared Rs1,350 per tola (11.66 grams) to a five-month high of Rs89,650 after global investors took refuge in the precious metal - considered a safe haven - due to escalation in tensions in the Middle East.

"A surge in gold price came in Pakistan in the wake of a significant rise of $29 per ounce (31.10 grams) to a five-month high at $1,551 in world markets," reported All Sindh Saraf and Jewellers Association (ASSJA).

"Gold price shot up following the US air strike in Baghdad that...

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