Gold prices soared both in the local and international markets on Thursday, pushing the precious metal to an all-time high in Pakistan’s history.

According to the All Pakistan Gems and Jewellers Association, the price of gold rose by Rs4,600 per tola, reaching Rs361,500. Similarly, the price of 10 grams of gold increased by Rs4,023, now standing at Rs310,007.

On the global front, gold also witnessed a significant jump, climbing $46 per ounce to settle at $3,417.

Jewellers attribute the rise to volatility in the international market and increased investor interest in safe-haven assets.

Gold prices surge sharply in domestic market