The price of 24 karat gold per tola increased by Rs2,700 and was sold at Rs453,562, compared to Rs450,862 in the previous trading session, according to the All Pakistan Sarafa Gems and Jewellers Association.

Likewise, the price of 10 grams of 24 karat gold went up by Rs2,315 to Rs388,856 from Rs386,541. Meanwhile, the price of 10 grams of 22 karat gold also rose by Rs2,122, reaching Rs356,464 compared to Rs354,342 earlier.

Read more: Sugar buyers feel relief as price falls sharply across Pakistan

Silver prices followed the same upward trend. The price of 24 karat silver per tola increased by Rs290 to Rs6,822 from Rs6,532. Similarly, the price of 10 grams of 24 karat silver climbed by Rs248 to Rs5,848 from Rs5,600.

In the international market, gold prices rose by $27 to reach $4,312 per ounce, while silver gained $2.90 and was traded at $65.50 per ounce.

The sharp rise in gold price shows strong influence from international markets. Investors are turning to safe assets. This trend may keep prices high in the coming days.