Gold prices surged to record highs on Monday in both international and local markets, driven by sharp increases in global bullion rates.
In the international bullion market, the price of gold rose by $61 per ounce, reaching a historic high of $3,613 per ounce.
Following the global trend, domestic markets also witnessed a significant jump.
In Karachi’s Sarafa Bazaar, the price of 24-carat gold per tola surged by Rs6,100, bringing it to an unprecedented Rs384,000.
Similarly, the price of 10 grams of gold rose by Rs5,230, reaching a record Rs329,219.
Read: Gold up at Rs377,900 per tola in Pakistan following global rally
Spot gold was up 0.7% at $3,612.20 per ounce, as of 0841 GMT. Bullion rose to a record high of $3,616.64 earlier in the session.
Bullion has surged 37% so far this year, building on a 27% gain in 2024, driven by a weaker dollar, strong central bank buying, a soft monetary policy backdrop, and geopolitical and economic uncertainty.
Elsewhere, spot silver rose 0.3% to $41.08 per ounce. Platinum climbed 1.6% to $1,394.90, and palladium gained 1.3% to $1,124.24.