KARACHI: Gold prices in Pakistan hit a new record high on Tuesday as the global market surged amid escalating trade tensions between the United States and China.
The price of gold rose sharply by Rs6,900 per tola, reaching an all-time high of Rs435,100 in the local market, while the rate for 10 grams increased by Rs5,916 to Rs373,028.
The spike followed a strong rally in international markets, where spot gold climbed 0.5% to $4,128.49 per ounce after touching a historic peak of $4,179.48 earlier in the session.
Just a day earlier, gold had already set a record, rising by Rs5,500 per tola to Rs428,200, while 10 grams of 24-karat gold went up by Rs4,715 to Rs367,112.
With the latest increase, the per tola gold price now stands at Rs435,100, the highest ever recorded in Pakistan.