Gold prices soar to unprecedented levels globally and in Pakistan, following the US Central Bank's interest rate cut.

LONDON - Spot gold prices hit a record high on Friday as a weak dollar, expectations of more U.S. interest rate cuts and tensions in the Middle East more than offset muted physical demand in Asia.

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Gold hit a record high above $2,600 per ounce on Friday, as the prospect of more U.S. interest rate cuts and global geo-political uncertainty boosted its appeal.

The price of gold rose to a fresh record high of more than $2 609 on Friday as the prospect of fresh US interest rate cuts boosted demand for the precious metal.

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Spot gold was up 0.7% at $2,604.50 per ounce by 0749 GMT after hitting a record high of $2,609.62. U.S. gold futures rose 0.6% to $2,630.00, while silver gained 1.1% to $31.12.

Gold prices rose on Friday, maintaining an upward trend supported by the start of the Federal Reserve's easing cycle, which ...

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