In the international bullion market, the price of gold per ounce surged by a significant $59, reaching $4,134. Spot gold was up 0.7% at $4,142.60 per ounce at 10:58 GMT, having earlier hit its highest since October 23 at $4,148.75, though still below its peak of $4,381.21 on October 20.

Elsewhere, spot silver gained 0.9% to $50.98 per ounce, platinum rose 0.8% to $1,590.45, and palladium climbed 2.1% to $1,444.77.

Read: Gold up Rs7,400/tola as global rate at 2-week high

In the local market, the price of gold per tola rose sharply by PKR 5,900, hitting Rs 435,762. Meanwhile, the price of gold per 10 grams increased by Rs 5,065 to Rs 373,595.

Read More: Gold prices dip in local market after global decline

On Monday, domestic prices jumped: a tola of gold increased by Rs7,400 to Rs429,862, while 10 grams of gold rose by Rs6,337 to Rs368,530.

Elsewhere, spot silver gained 3.1% to $49.79 per ounce, reaching its highest since October 21. Platinum rose 1.6% to $1,570.15, and palladium added 1.4% to $1,399.93.