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.

With both assets leading the market, here's a closer look at the factors driving their remarkable performance.

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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