New all-time high: gold price per tola gains Rs2,000 in Pakistan

Gold prices in Pakistan increased on Wednesday in line with their gain in the international market. In the local market, gold price per tola reached a fresh all-time high of Rs472,862 after a gain of Rs2,000 during the day.

Similarly, 10-gram gold was sold at Rs405,402 after it increased by Rs1,714, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Tuesday, gold price per tola reached Rs470,862 after a gain of Rs8,500 during the day.

The international rate of gold was up by $20 to reach $4,505 per ounce (with a premium of $20).

Meanwhile, the price of silver also increased by Rs500 to clock in at Rs7,505 per tola.

Internationally, gold surged past the $4,500-an-ounce mark for the first time on Wednesday, while silver and platinum also scaled record highs, as investors piled into precious metals on safe-haven demand and expectations that US interest rates will fall further next year.

Spot gold rose 0.1% to $4,492.51 per ounce by 0359 GMT, after touching a record high of $4,525.19 earlier in the session.

US gold futures for February delivery climbed 0.3% to a record high of $4,520.60.

Silver gained 1.2% to $72.27 an ounce, after hitting an all-time peak of $72.70 earlier.