Gold prices have surged to a new record high in the local market mainly due to an increase in price in the global market.Â
On the international front, gold prices per ounce jumped by $60, reaching $2,470. This global increase has had a direct impact on local prices, where the cost per tola climbed by Rs 4,600 to a new peak of Rs 254,000.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price for 10 grams of gold also rose by Rs 4,287, reaching Rs 217,764. The association noted that the international gold rate saw its increase on Thursday, settling at $2,470 per ounce, which includes a $20 premium.
While gold prices have increased, silver prices have remained stable at Rs 2,900 per tola. This stability in silver comes despite the volatile changes in gold rates, which had previously reached what was then an all-time high of Rs 252,200 per tola back in April.
