KARACHI: The gold prices in Pakistan surged to a record high on Monday, reaching a new peak amid continuous upward trends.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola rose by Rs3, 400, hitting an unprecedented Rs393, 700. Similarly, the price of 10 grams of gold increased by Rs2, 915, reaching Rs337,534.

On the international front, gold also registered significant gains, climbing $34 to $3,719 per ounce.

Earlier, Gold prices in Pakistan dropped in line with downward trend in international market.

According to the Saraffa Association, the opening price of 24-karat gold per tola on third day of the business week stood at 387,500 while the rate for 10 grams stood at Rs332,218.

Gold is a valuable commodity widely traded in global markets. Known for its rarity and durability, gold has been used for centuries as a store of value and hedge against inflation. It is traded in various forms, including physical bullion, futures contracts, and exchange-traded funds (ETFs).

Investors often turn to gold during economic uncertainty, as it tends to retain value when other assets decline. Major trading centers include London, New York, and Shanghai. Gold prices are influenced by factors like interest rates, currency strength, and geopolitical events, making it a crucial component of diversified investment portfolios.