Gold prices reach record highs in global and Pakistani markets

Gold prices hit new record highs in both international and domestic markets on Monday, driven by strong investor demand in the global bullion trade.

In the international market, the price of gold per ounce rose by $34, reaching $3,719. In Pakistan, the per tola rate of 24-karat gold climbed by Rs3,400 to Rs393,700, while the price of 10 grams increased by Rs2,915 to Rs337,534.

The surge continues a week-long upward trend, with gold already registering significant gains over the weekend. On Saturday, the local market recorded an increase of Rs2,800 per tola, taking the rate to Rs390,300.

Silver prices also advanced, with the per tola rate rising to Rs4,532 and 10 grams to Rs3,885.

The All Pakistan Sarafa Gems and Jewellers Association (APSGJA) confirmed the latest rates, attributing the increase to robust international demand and investor interest in safe-haven assets amid ongoing economic uncertainties.