Gold hits new peak in Pakistan after Rs21,200 per tola surge

Gold prices in Pakistan climbed to a fresh all-time high on Thursday, continuing a sharp upward trend in the local bullion market.

According to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola surged by Rs21,200 during the day to settle at Rs572,862.

The price of 10 grams of gold also rose sharply, gaining Rs18,175 to reach Rs491,136.

A day earlier on Wednesday, gold had already posted a major jump, with the per tola rate increasing by Rs21,100 to stand at Rs551,662.

Internationally, gold prices also moved higher. The global rate increased by $212 to reach $5,505 per ounce, including a premium of $20.

Silver prices followed the same upward trajectory in the domestic market. The price of silver rose by Rs264, taking it to Rs12,175 per tola.

On the global front, spot gold extended its strong rally on Thursday, touching record levels as investors flocked to safe-haven assets amid ongoing geopolitical tensions and economic uncertainty. Spot gold jumped 2.7 percent to $5,542.29 per ounce by 0149 GMT, after hitting an intraday record of $5,591.61. Silver prices also remained elevated, coming close to crossing the $120 mark.