Gold surged by Rs 472 to close at Rs 50,314 per 10 grams in the local market Thursday as its international price improved to $ 1,702 an ounce, market sources said.

According to Karachi Saraf Association official, tola (11.664 grams) price also jumped by Rs 550 to Rs 58,700.

Silver closed lower at Rs 968.57 per 10 grams.