Gold prices in Pakistan surged to an all-time high on Wednesday following a significant rise in global rates. In the local market, the price of gold per tola (11.66 grams) jumped by Rs2,000, reaching a new record of Rs285,400, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
The price of 10 grams of gold also rose by Rs1,714, pushing the price to Rs244,684. This surge comes after Tuesday’s increase of Rs1,100, which had set the gold price at Rs283,400 per tola.
Silver prices also saw a rise in the local market, with an increase of Rs200 per tola, bringing the price to Rs3,350.
Gold’s price surge is linked to its status as a safe-haven asset, especially during periods of economic uncertainty and geopolitical tensions. Globally, gold prices climbed due to ongoing conflicts in the Middle East and uncertainties surrounding the upcoming US elections.
The APGJSA reported that international gold prices reached $2,757 per ounce, with a $20 premium, marking a $20 increase during the day.
Gold’s appeal as a secure investment continues to grow, particularly during times of global instability, making it a preferred asset for many investors.
 jumped by Rs2,000, reaching a new record of Rs285,400, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).){kind=link}