Gold prices reached record levels on Monday in both international and local markets as strong buying interest continued, according to the report.
In the global bullion market, spot gold climbed 1.7 percent to $4,413.01 per ounce by 0955 GMT, after touching a new peak of $4,420.01 earlier in the day. US gold futures for February delivery also moved higher, rising 1.4 percent to $4,446.70 per ounce.
The international surge was reflected in Pakistan’s local market, where gold prices jumped to historic highs. The price of gold per tola increased by Rs6,200 to reach a record Rs462,362. Meanwhile, the price of 10 grams rose by Rs5,315 to Rs396,400, the highest level ever recorded.
Silver prices also saw a sharp increase. Spot silver gained 2.8 percent to $68.98 per ounce after hitting a new all-time high of $69.44 during trading.
Analysts linked the strong upward movement to ongoing global uncertainty and expectations of easier monetary policies.