Gold prices in Pakistan hit record high of Rs285,400 per tola

Gold prices in Pakistan continued their upward trend on Wednesday, mirroring increases in the global market. In the local arena, the price of gold per tola rose by Rs2,000, reaching a new record high of Rs285,400.

In addition, the price for 10 grams of gold climbed to Rs244,684, marking an increase of Rs1,714, according to data from the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). This follows a rise of Rs1,100 on Tuesday when gold was priced at Rs283,400.

The international gold market also experienced a boost on Wednesday, with rates reported at $2,757 per ounce, plus a $20 premium, reflecting a daily increase of $20.

Meanwhile, silver prices also rose, with the cost per tola increasing by Rs200 to settle at Rs3,350.

Globally, gold surged to record levels amid escalating conflicts in the Middle East and growing uncertainties related to the upcoming US election, driving demand for safe-haven assets.