ISLAMABAD: The price of 24-karat gold jumped by Rs. 6,000 on Wednesday, hitting an all-time high of Rs. 376,700 per tola compared to Rs. 370,700 per tola a day earlier.
According to data released by the All Pakistan Sarafa Gems and Jewellers Association, the price of 10 grams of 24-karat gold rose by Rs. 5,144 to settle at Rs. 322,959, up from Rs. 317,815. The 22-karat gold rate also witnessed a notable increase, climbing by Rs. 4,715 to Rs. 296,056 from the previous Rs. 291,341.
Silver prices followed suit, with per tola silver rising by Rs. 12 to Rs. 4,315, while the price of 10 grams increased by Rs. 10 to Rs. 3,699.
In the international market, gold prices also hit an all-time high, rising by $60 to reach $3,540 per ounce, compared to $3,480 in the previous session. Silver was recorded at $40.82 per ounce, marking a modest increase of $0.12.
Earlier, Gold prices reached historic high in local market amid upward trend in international market on Tuesday.
The price of 24-karat gold per tola stood at 370,700 after an increase of Rs3,300 in previous session while the rate for 10 grams stood at Rs317,815, according to the Saraffa Association.
Gold is a valuable commodity widely traded in global markets. Known for its rarity and durability, gold has been used for centuries as a store of value and hedge against inflation. It is traded in various forms, including physical bullion, futures contracts, and exchange-traded funds (ETFs).
