KARACHI: The gold prices in Pakistan surged to a historic peak on Monday, with the price of 24-karat gold per tola reaching Rs 403,600 amid a continued upward trend in both domestic and international markets.

According to data from the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the per tola price of gold rose by Rs 5,900 to hit a record level of Rs 403,600. Meanwhile, the price of 10 grams of gold increased by Rs 5,058, bringing it to Rs 346,021.

The surge in local prices follows a sharp rise in the global bullion market, where gold gained $59 to reach $3,818 per ounce.

Silver prices also witnessed an increase, with the per tola rate climbing by Rs 88 to settle at Rs 4,792.

Analysts attribute the record-breaking rally in gold prices to ongoing global economic uncertainty, currency depreciation, and heightened investor demand for safe-haven assets.

The latest surge has intensified pressure on local markets, where gold remains a key hedge against inflation and currency volatility.

Earlier, price of gold in Pakistan rose sharply, with 24-karat gold gaining Rs1,900 per tola, according to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA).

The new rate for 24K gold per tola stands at Rs397,700, marking a significant increase compared to the previous day.

Similarly, the price of 10 grams of 24K gold climbed by Rs1,629 to reach Rs340,963, while 10 grams of 22K gold rose by Rs1,493, settling at Rs312,560.

In international market, the gold price stood at historic high of $3,719 per ounce.