KARACHI: Gold and silver prices in Pakistan and international markets surged to historic levels on Wednesday, marking one of the most significant increases in history. In Pakistan, gold prices shattered the Rs500,000 barrier for the first time ever.
As reported by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold soared by an unprecedented Rs12,700 per tola, reaching Rs506,362, driven by rising global rates and robust investor interest.
Similarly, the cost of 10 grams of 24-karat gold jumped by Rs10,888, settling at Rs434,123, while 10 grams of 22-karat gold saw an increase of Rs9,981, bringing the rate to Rs397,960.
The meteoric rise in precious metals is attributed to aggressive buying by central banks in several nations, combined with persistent geopolitical tensions across the globe.
On the international stage, gold prices climbed by $127 per ounce to close at $4,840, reflecting growing global demand for valuable metals amid ongoing economic instability and fluctuating currency values.
Silver prices also mirrored this upward trend. The price of one tola of 24-karat silver rose by Rs64 to reach Rs9,933, while 10 grams of 24-karat silver increased by Rs54 to stand at Rs8,515.
