The price of gold in Pakistan surged by Rs. 1,600 per tola on Tuesday, nearing an all-time high. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-carat gold increased to Rs. 285,000 per tola. The price for 10 grams also rose by Rs. 1,372, reaching Rs. 244,342.

This increase follows a decline in the local market yesterday, where gold prices fell by Rs. 900, closing at Rs. 283,400 per tola. The precious metal previously reached a record high of Rs. 285,400 per tola on October 23.

In the international market, spot gold saw a 0.3 percent increase, trading at $2,748.64 per ounce as of 1031 GMT. Meanwhile, US gold futures rose by 0.2 percent to $2,760.80.