On Wednesday, the price of 24-karat gold per tola jumped by Rs12,700 and settled at a historic high of Rs506,362, according to market data.
Read more: Gold smashes record above $4,800
The price of 10 grams of 24-karat gold also saw a strong rise. It increased by Rs10,888 to reach Rs434,123, showing continued buying pressure.
Similarly, 10 grams of 22-karat gold became more expensive after rising by Rs9,981 to settle at Rs397,960, as reported by the All Pakistan Sarafa Gems and Jewellers Association.
Silver prices followed the same upward trend in the local market. The price of 24-karat silver per tola increased by Rs64 to Rs9,933.
Meanwhile, the price of 10 grams of silver went up by Rs54 and closed at Rs8,515, reflecting growing interest in precious metals.
In the international market, gold prices climbed by $127 to reach a fresh record of $4,840 per ounce. Silver prices also moved higher, rising by $0.64 to $94.58 per ounce, the association said.
Read more: PSX breaks another record as KSE-100 crosses 189,000 points
Gold prices are rising due to strong global demand. Investors are looking for safety in uncertain times. Local prices are following international trends closely. If uncertainty continues, prices may stay high.
