According to All Sindh Sarafa Jewellers Association, the price of 24 karat per tola gold increased to Rs277,900 compared to its sale at Rs277,200 on last trading day.

The association reported the price of 10 grams of 24 karat gold also increased by Rs600 to Rs238,254 from Rs. 237,654 whereas the price of 10 gram 22 karat gold went up to Rs. 218,400 from Rs. 217,850.

Meanwhile, gold broke to a new record high of $2,689 earlier in the European session on a mixture of declining global interest rate expectations and increased safe-haven flows amid heightened tensions in the Middle East are contributing to the rise, FX Street reported.

According to FX Street, gold pulled back after touching a new record high on Thursday following the release of higher-than-expected US Retail Sales data which strengthens the US Dollar (USD) and puts pressure on Gold to which USD is negatively correlated.

However, if fell back down after the release of US data showed Retail Sales rising 0.4% MoM in September from 0.1% in August and above expectations of 0.3%. Retail Sales ex Autos also beat the previous month s upwardly-revised 0.2%, coming out at 0.5% and was well above estimates of 0.1%, according to data from the US Census Bureau, the reported noted.