Gold prices surged to record-breaking levels on Wednesday, setting new peaks in both international and domestic markets.
In the global bullion market, the precious metal jumped by $60 per ounce, reaching an unprecedented $3,540 per ounce. The rally immediately influenced local markets in Pakistan.
The price of 24-karat gold rose by Rs6,000 per tola, touching an all-time high of Rs376,700 per tola. Similarly, the rate for 10 grams of gold climbed by Rs5,144, now standing at Rs322,959.
According to traders, the sharp rise is directly tied to international trends, pushing local buyers into difficulty. While investors continue to flock to gold as a safe-haven asset, ordinary consumers find themselves priced out of the market.