According to the All Pakistan Gems and Jewellers Association, the price of gold in the domestic market jumped by Rs10,800 per tola, pushing it to an all-time high of Rs455,136 per tola.
Similarly, the price of 10 grams of gold increased by Rs9,720, reaching Rs389,600.
Silver prices also moved higher, with the rate of one tola of silver rising by Rs230 to Rs7,509.
The rally was mirrored in international markets, where gold gained $108 per ounce, climbing to $4,327 per ounce, one of the highest levels recorded in recent trading sessions.
Market analysts say the sustained rise in global gold prices is directly impacting local bullion markets, driving precious metal rates to unprecedented levels. Growing investor demand for safe-haven assets amid economic uncertainty and market volatility has been cited as a key factor behind the continued surge.
With international gold prices maintaining strong momentum, traders believe domestic rates could remain elevated in the coming days unless global market conditions shift significantly.
