KARACHI: Gold prices in the local market rose by Rs1,000 per tola on Thursday, reaching yet another all-time high following an increase in the international market. With this latest jump, both local and global gold prices continue their record-breaking trend, reflecting economic uncertainty.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola in Pakistan reached Rs309,000, marking a significant increase. Similarly, the price of 10-gram gold climbed by Rs857, bringing it to Rs264,917. In the international market, gold prices saw an upward movement of $9 per ounce, reaching $2,953. As per standard practice, local gold prices are adjusted with a $20 premium over the international market rate to account for domestic supply and demand factors.

The rise in gold prices also impacted silver rates, which increased by Rs28 per tola, bringing the new rate to Rs3,468 per tola. Meanwhile, the price of 10-gram silver also climbed by Rs24, reaching Rs2,973. Analysts suggest that economic policies, inflation concerns and geopolitical instability have further fuelled the demand for gold, pushing prices to record levels.