Gold prices have surged to historic levels in Pakistan, driven by increases in both the international and local markets.

In the global bullion market, the price of gold rose by $29 per ounce, reaching $2,772, Express News reported.

Locally, gold prices hit record highs on Friday.

The price of 24-karat gold climbed by Rs2,900 per tola to reach Rs289,600, while the price for 10 grams increased by Rs2,486 to settle at Rs248,285.

This marks the highest price for gold since October 30, 2024, reflecting a surge driven by both international market trends and local demand.

Silver prices also saw an increase, with the price per tola rising by Rs31 to Rs3,432, and 10 grams increasing by Rs27 to Rs2,942.

Local market analysts attribute the price hike to global inflationary pressures and a weakening currency, which have raised production costs and consumer prices.0

Yesterday, gold prices decreased in both global and local markets.

In the international bullion market, the price of gold per ounce has dropped by $8, bringing the new global price to $2,743.

On the other hand, in local gold markets, the price of 24-carat gold per tola has decreased by Rs 750, reaching Rs 283,700, while the price of gold per 10 grams has also dropped by Rs 641, settling at Rs 245,799.

Furthermore, the price of silver per tola has decreased by Rs 30, now at Rs 3,401, and the price of silver per 10 grams has dropped by Rs 26, standing at Rs 2,915.