Gold prices in Pakistan continued their upward trend on Wednesday as the precious metal climbed to a new all-time high in the local and global markets.

The All Pakistan Sarafa Gems and Jewellers Association (APSGJA) reported a sharp increase in gold prices. The price of 24-karat gold rose by Rs5,800 per tola, reaching Rs440,900 in the local market.

Similarly, the rate for 10 grams of 24-karat gold went up by Rs4,972 to reach Rs378,000. For 10 grams of 22-karat gold, the price increased by Rs4,558, making it Rs346,512.

In the international market, gold prices also climbed by $58 to reach $4,198 per ounce. Experts say the rise in global gold prices is mainly due to growing investor interest caused by economic uncertainty and unstable currency values.