Gold prices in Pakistan surged to a new record on Wednesday, in line with a massive rally in the international market.
In the local market, the price of gold per tola jumped by Rs. 21,100 to settle at Rs. 551,662.
Similarly, the price of 10-gram gold climbed by Rs. 18,090 to Rs. 472,961, according to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Tuesday, gold prices had edged lower, with the per tola rate falling by Rs. 1,500 to Rs. 530,562.
In the international market, gold prices rose by $211 to $5,293 per ounce, including a premium of $20.
Silver prices in the domestic market also touched a fresh peak, with the per tola rate increasing by Rs. 271 to Rs. 11,911, marking a new all-time high.
Globally, gold broke through the $5,200 level for the first time on Wednesday ahead of the U.S. Federal Reserve’s monetary policy decision. Spot gold rose 0.6 percent to $5,219.97 per ounce by 0153 GMT after touching a record high of $5,224.95 earlier in the session, and is now up more than 20 percent since the start of the year.
Meanwhile, U.S. gold futures for February delivery surged 2.6 percent to $5,216.80 per ounce.
