KARACHI: Gold prices continued their record-breaking streak on Wednesday, touching new all-time highs in both domestic and global markets.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola jumped by Rs. 6,000 to reach Rs. 376,700. Similarly, the rate for 10 grams of gold surged by Rs. 5,144, closing at Rs. 322,959.
The spike comes just a day after prices held steady at Rs. 370,700 per tola, underlining the market’s volatility.
Global trends mirrored the local surge. International gold prices soared by $60 in a single day, hitting a record $3,540 per ounce, inclusive of a $20 premium. Analysts point to heightened demand and economic uncertainty as key drivers behind the historic rise.
Silver also edged higher, with prices increasing by Rs. 12 per tola to Rs. 4,315.
Traders and analysts say that safe-haven demand is likely to keep both gold and silver elevated in the near term, as investors hedge against inflation and global market turbulence.