Gold prices in Pakistan surged on Tuesday, tracking massive gains in the international bullion market and setting new historic records in the local market.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola jumped by Rs4,300 during the day to reach Rs493,662, marking the highest level ever recorded in Pakistan.

Similarly, the price of 10 grams of gold increased by Rs3,686 and was sold at Rs423,235, reflecting strong demand and global price momentum.

The rally followed an already sharp rise on Monday, when gold per tola climbed by Rs7,500 to settle at Rs489,362. Analysts said consecutive gains highlight growing investor interest in gold as a safe-haven asset amid global economic uncertainty.

In the international market, gold prices rose by $43 to reach $4,713 per ounce, including a premium of $20. Market experts attributed the global surge to expectations of monetary easing, geopolitical tensions, and sustained buying by central banks.

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Local jewellers said the continuous rise in international prices, combined with currency dynamics, directly impacted domestic gold rates. They added that higher prices may affect retail demand in the short term, particularly for jewellery purchases, but investment demand remains strong.

Silver prices also followed the upward trend. The price of silver per tola increased by Rs87 to reach Rs9,869 in the local market.

Traders noted that precious metals could remain volatile in the coming days, depending on global inflation data, interest rate signals, and movements in the US dollar.

With gold trading at record highs both globally and locally, investors and buyers are closely watching market trends to assess whether the rally will continue or see a temporary correction.