Gold price surge by Rs12,700 in Pakistan

The prices of gold and silver have touched new record levels in the international as well as domestic markets on Wednesday.

According to All Pakistan gems and jwellers , the price of gold per tola increased by Rs12,700 to a record high of Rs506,362.

Consequently, the price of gold for 10 grams also rose by Rs10,888 to Rs434,123.

In the international bullion market, the price of gold per ounce rose significantly by $127 to a record high of $4,840.

The prices of silver also surged, as the price per tola rose by Rs64 to a record high of Rs9,933, and the price of 10 grams of silver rose by Rs54 to Rs8,515.

Spot gold rose 2.6% to $4,885.11 an ounce as of 0633 GMT, after hitting a record high of $4,887.82 earlier in the day. US gold futures for February delivery rose 2.6% to $4,888.20 an ounce.

Spot silver declined 0.5% to $95.03 an ounce, after touching a record high of $95.87 on Tuesday.