KARACHI: Gold prices soared to fresh all-time highs on Tuesday in both international and domestic markets, driven by a strong global rally in bullion.
In the international market, gold gained $49 per ounce, reaching a new peak of $3,692. Spot gold edged up 0.2% to $3,685.02 per ounce as of 0632 GMT, after briefly hitting $3,689.27. US gold futures for December delivery also rose 0.1% to $3,722.70.
Tracking the global surge, local gold prices in Pakistan jumped sharply. The per-tola price increased by Rs4,700 to a record Rs391,000, while the rate for 10 grams rose by Rs4,030, settling at Rs335,219, according to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA).
Other precious metals showed mixed trends: silver remained stable at $42.73 per ounce, platinum dipped 0.2% to $1,398.84, and palladium slipped 0.2% to $1,182.25.
The surge comes just a day after gold prices held steady near record highs, as investors awaited the outcome of the US Federal Reserve’s upcoming policy decision, which continues to influence global bullion trends.
