Gold prices surged sharply in both international and domestic markets on Wednesday, reflecting heightened uncertainty across global financial systems. Silver also posted a historic rise, reaching record levels locally and internationally as investor demand strengthened.
Read More: Gold gains Rs500, silver hits record high
In the international bullion market, gold prices increased by $27 per ounce, settling at $4,312. Analysts noted that persistent inflation concerns and fluctuating currencies continued to support demand for precious metals worldwide.
According to the All Pakistan Sarafa Association, the surge in global prices had an immediate impact on Pakistan’s local market. The price of 24-karat gold per tola rose by Rs2,700 to reach Rs453,562, marking one of the highest levels recorded.
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Similarly, the price of 10 grams of 24-karat gold increased by Rs2,315, bringing it to Rs388,856. Traders reported that buying interest remained cautious as consumers weighed high prices against economic pressures.
Silver prices also experienced an unprecedented jump during the trading session. In Pakistan, the price of 24-karat silver per tola climbed by Rs290, reaching an all-time high of Rs6,822 for the first time.
Read More: Gold prices fall by Rs 4,000 per tola
On the international front, silver gained $2.9 per ounce to reach a record $65.50. Market experts attributed the rally to global economic uncertainty, currency volatility, and strong investor interest in safe-haven assets amid ongoing market instability.