According to the All Pakistan Sarafa Gems and Jewelers Association, the price of 10 grams of 24 karat gold also saw a notable rise of Rs686, bringing it to Rs300,240 from Rs299,554.

Likewise, 10 grams of 22 karat gold increased by Rs629, now priced at Rs275,230, up from Rs274,601.

Meanwhile, silver rates held steady. The price per tola remained unchanged at Rs3,782, and the rate for 10 grams stood firm at Rs3,242.

On the global stage, the international gold price climbed by $8, rising to $3,282 from $3,274, while silver held its ground at $35.98 per ounce.

The consistent surge in gold prices, both locally and globally, reflects a growing trend of investors seeking safe-haven assets amid economic uncertainty and inflation concerns. For Pakistanis, this sudden hike might put pressure on local consumers, especially ahead of peak wedding and investment seasons.

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The unchanged silver prices, however, suggest that gold remains the preferred hedge against volatility for now. With prices now hovering near all-time highs, curiosity looms: Will gold prices break new records, or is a correction on the horizon? Savvy investors and jewelers alike will be watching closely.