Karachi: Gold price per tola surging by Rs 2,000, reaching new all-time high of Rs 285,400 per tola. This increase comes amid rise in international gold rates, further driving up local market prices.

According to All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), price of ten gram gold also saw significant hike of Rs 1,714, bringing new rate to Rs 244,684 per ten gram. In international market, gold prices experienced an upward surge on Wednesday, with price per ounce rising by $ 20, reaching $ 2,757 an ounce. APGJSA also reported an additional premium of $ 20 during day.

Global demand for precious metal has been bolstered by ongoing geopolitical tensions, particularly in Middle East and uncertainties surrounding upcoming US elections, leading investors to seek safer assets like gold. Silver price reflected this trend, increasing by Rs 200 per tola to Rs 3,350 per tola in local market.