Gold prices surge by Rs1,800 per tola, hit new record

KARACHI: Gold prices in the local market climbed by Rs1,800 per tola on Thursday, following an uptrend in international gold rates. This latest increase propelled gold to a new all-time high, as economic uncertainties continued to drive investors towards safe-haven assets.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola surged to Rs320,800, while the 10-gram gold rate rose by Rs1,543, reaching Rs275,034.In the international market, gold prices saw a $12 per ounce increase, bringing them to $3,050 per ounce.Meanwhile, silver prices experienced a decline. The price of silver per tola fell by Rs31 to Rs3,524, while the 10-gram silver rate dropped by Rs26, settling at Rs3,021.