KARACHI: Gold and silver prices soared to unprecedented levels on Wednesday, setting new records in both domestic and global markets.
In Pakistan, the price of 24-karat gold witnessed a historic increase of Rs21,100 per tola, pushing the rate to an all-time high of Rs551,662. Similarly, the price of 10 grams of gold surged by Rs18,090 to reach a record Rs472,961.
Silver prices also moved sharply upward. The rate of 24-karat silver rose by Rs271 per tola, taking its price to a new nationwide high of Rs11,911.
International markets reflected the same bullish trend, with precious metals registering significant gains. Gold prices jumped by $211 per ounce to reach a historic peak of $5,293, while silver climbed by $2.71 per ounce, settling at $114.36.
Market analysts linked the sharp rise in precious metal prices to ongoing global economic uncertainty, heightened volatility in currency markets, and growing investor preference for safe-haven assets amid unstable financial conditions.
