The price of 24-karat gold in Pakistan surged by Rs. 3,700 per tola on Wednesday, reaching an all-time high of Rs. 364,900, according to the All Pakistan Sarafa Gems and Jewelers Association. This marks a significant increase from Tuesday’s price of Rs. 361,200 per tola.

The latest hike has pushed gold prices in Pakistan to their highest-ever level, surpassing the previous record of Rs. 363,700 per tola set in April.

Weekly Trends in Gold Prices
Gold prices have seen a sharp rise this week, with an increase of Rs. 3,600 per tola on Monday, no change on Tuesday, and today’s jump of Rs. 3,700. This brings the total increase for the week to Rs. 7,300 per tola.

The price of 10 grams of 24-karat gold also rose by Rs. 3,171, reaching Rs. 312,842 from Rs. 309,671. Similarly, 10 grams of 22-karat gold increased by Rs. 2,917, climbing to Rs. 286,782 from Rs. 283,865.

Silver Prices Also Rise
Silver prices followed a similar trend, with the rate for one tola increasing by Rs. 46 to Rs. 4,081, while the price for 10 grams rose by Rs. 39 to Rs. 3,498.

Global Market Impact
In the international market, gold prices increased by $37, reaching $3,424 per ounce from $3,387. Silver prices also saw a rise, climbing by $0.46 to $39.34 per ounce from $38.88.

The sharp rise in gold prices reflects both local and global market trends, with investors turning to precious metals as a hedge against economic uncertainty.