Gold hits new high in Pakistan after Rs2,000 per tola increase

Gold prices in Pakistan continued their upward trend on Wednesday mirroring gains in the international market.

In the domestic market, the price of gold per tola climbed to a record Rs472,862 after an increase of Rs2,000 during the day, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Similarly, 10-gram gold was traded at Rs405,402, up Rs1,714 from the previous day. On Tuesday, gold had reached Rs470,862 per tola after an increase of Rs8,500.

In the global market, gold surpassed the $4,500-per-ounce mark for the first time, reaching $4,505 per ounce with a $20 premium. Spot gold was trading at $4,492.51 per ounce by 0359 GMT after hitting an all-time high of $4,525.19 earlier in the session.

US gold futures for February delivery also climbed to a record $4,520.60 per ounce.

Silver prices in Pakistan rose by Rs500 to Rs7,505 per tola. Globally, silver gained 1.2% to $72.27 per ounce after reaching a peak of $72.70, while platinum also saw record highs.