KARACHI : Gold price surged by Rs 300 to close at Rs 50,442 per 10 grams in the local market on Friday. According to Karachi Sarafa Association, tola price also increased by Rs 350 to Rs 58,850. Reuters adds from London: Gold edged up, set for its first weekly gain in three weeks, as growing confidence in a prompt deal between European leaders and Greece over its second bailout eroded investor appetite for low-yielding lower risk currencies.