Gold prices in Pakistan surged to another record high on Thursday, driven by strong international gains and rising demand for safe-haven assets.
In the local market, the price of gold per tola jumped by Rs. 21,200 to reach Rs. 572,862. Similarly, the price of 10-gram gold increased by Rs. 18,175 to settle at Rs. 491,136, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
A day earlier, gold had already posted a major rise, with the per tola rate climbing by Rs. 21,100 to Rs. 551,662, highlighting the sharp upward momentum in the market.
On the international front, gold prices also witnessed a strong rally. The global rate rose by $212 to reach $5,505 per ounce, including a premium of $20.
International spot gold extended its blistering run to hit fresh record highs as investors sought safety amid ongoing geopolitical and economic uncertainties. Spot gold jumped 2.7 percent to $5,542.29 per ounce by 0149 GMT, after touching an intraday peak of $5,591.61 earlier in the session.
Meanwhile, silver prices in Pakistan also moved higher, with the per tola rate increasing by Rs. 264 to reach Rs. 12,175.