Gold prices also continued their upward trajectory, setting fresh records both locally and globally. In the local market, the price of gold per tola increased by Rs. 2,000 during the day, reaching a new all-time high of Rs. 472,862.
The price of 10-gram gold rose by Rs. 1,714 to settle at Rs. 405,402.
Silver prices also soared to a new all-time high, climbing by Rs. 500 to reach Rs. 7,505 per tola, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
The surge in silver was mirrored by gains in the international market, where silver rose 1.2% to $72.27 an ounce after hitting a record peak of $72.70 earlier in the session.
On Tuesday, gold had already reached Rs. 470,862 per tola after a sharp gain of Rs. 8,500.
Internationally, gold prices surged past the $4,500-an-ounce mark for the first time, with the global rate up by $20 to $4,505 per ounce (including a $20 premium).
Spot gold rose 0.1% to $4,492.51 per ounce by 0359 GMT, after touching a record high of $4,525.19 earlier in the session. US gold futures for February delivery climbed 0.3% to a record high of $4,520.60.
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