Gold prices in Pakistan skyrocketed to a record high on Wednesday, driven by rising international rates. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price per tola of gold increased by Rs2,000, reaching a historic Rs285,400.
Additionally, the price of 10 grams of gold jumped by Rs1,714, bringing it to Rs244,684. This follows a previous increase of Rs1,100 on Tuesday, which set the then-record price at Rs283,400 per tola.
Silver prices also saw gains, with an Rs200 rise per tola, bringing the price to Rs3,350.
The surge in gold prices reflects global trends, with geopolitical tensions in the Middle East and uncertainty ahead of the US elections pushing international gold rates higher. The APGJSA reported that global gold prices rose by $20, bringing the cost to $2,757 per ounce, including a $20 premium.
Gold continues to be a sought-after safe-haven asset during periods of economic and geopolitical instability.
