The price of gold in Pakistan surged to an all-time high on Wednesday, breaking previous records as reported by the Karachi Sarafa Association. The price of 24-carat gold increased by Rs. 2,300 per tola, reaching Rs. 264,000. Similarly, the price for 10 grams rose by Rs. 1,972, hitting Rs. 226,337.

This latest increase surpasses the previous record of Rs. 263,700 per tola, which was set last month. The rise in domestic gold prices reflects broader trends in the international market, where gold prices also saw an uptick.

Globally, gold prices climbed on Wednesday as the US dollar weakened. Investors are now focusing on upcoming US inflation data, which could impact the Federal Reserve’s future policy decisions.

Spot gold increased by 0.2 percent to $2,524.54 per ounce as of 0842 GMT, while US gold futures rose by 0.4 percent to $2,553.80.