Gold prices hit historic highs on Monday in both international and local markets, fueled by sharp gains in global bullion rates.
In the international market, gold climbed by $61 per ounce to reach a record $3,613 per ounce.
Following the trend, domestic markets also saw a steep rise. In Karachi’s Sarafa Bazaar, 24-carat gold per tola jumped by Rs6,100, setting a new peak at Rs384,000, while the price of 10 grams increased by Rs5,230 to Rs329,219.
Spot gold was trading at $3,612.20 per ounce at 8:41 GMT, after earlier touching $3,616.64, the highest ever recorded.
So far this year, bullion has gained 37% after a 27% surge in 2024, supported by a weaker dollar, strong central bank demand, loose monetary policies, and ongoing geopolitical and economic uncertainty.
Other precious metals also advanced, with silver up 0.3% to $41.08 per ounce, platinum rising 1.6% to $1,394.90, and palladium gaining 1.3% to $1,124.24.