Gold and silver prices recorded another sharp increase, following a strong surge in the international market that pushed precious metals to new highs.

According to market reports, the global price of gold increased by $53 per ounce, reaching $5,020 per ounce. The rise in international rates directly impacted local markets, where gold prices climbed significantly.

In Pakistan, the price of one tola of gold increased by Rs5,300, reaching Rs524,762. Similarly, the price of 10 grams of gold rose by Rs4,544, bringing it to Rs449,898. This sharp rise has created concern among buyers, investors, and jewelry traders.

Experts say the increase is driven by global economic uncertainty, currency fluctuations, and strong investor demand for safe-haven assets like gold. Many investors turn to gold during uncertain economic conditions to protect their wealth.

Meanwhile, silver prices also recorded a major increase. The price of one tola of silver rose by Rs346, reaching Rs8,615. The increase in silver prices reflects the overall upward trend in precious metals.

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Jewelry traders said rising prices may reduce buying activity, especially among wedding shoppers, as gold becomes increasingly expensive.

Market analysts believe gold prices may remain volatile in the coming days depending on global economic developments and currency movements.

Investors and buyers are advised to monitor market trends closely before making major purchase decisions, as further fluctuations cannot be ruled out.