The price of gold in Pakistan surged to a new all-time high on Tuesday, with the precious metal rising by Rs. 1,100 per tola to Rs. 273,000.

According to data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-carat gold jumped by Rs. 1,100 per tola, while the price of 10 grams increased by Rs. 943 to Rs. 234,053.

This latest surge marks a consistent trend of rising gold prices in Pakistan over the past few weeks, with gains of over Rs. 10,000 per tola in the last two weeks alone. The primary driver behind this increase is the rising international price of gold.

The price of gold in the local market had eased slightly on Monday, dropping by Rs. 600 per tola to Rs. 271,900, just shy of the previous record high set on Saturday, September 28. However, Tuesday’s surge has pushed the price to a new all-time high.