Gold prices in Pakistan surged to an all-time high on Monday, crossing the Rs400,000 per tola mark for the first time in the country’s history.

According to the All Pakistan Gems and Jewellers Association, the price of 24-karat gold rose by Rs5,900 to reach a record Rs403,600 per tola.

The rate of 10 grams of gold also increased by Rs5,058, closing at Rs346,021.

The sharp rise follows consistent gains in recent weeks.

On Saturday, gold had climbed by Rs1,900 per tola to settle at Rs397,700, but Monday’s surge pushed it to fresh record levels.

Data shows that since August 30, the price of 10 grams of gold has gone up by Rs31,035, while per tola rates have risen by Rs36,200 in just one month.

The international market also witnessed a significant rally, with gold prices jumping by $59 to settle at $3,818 per ounce, including a $20 premium.

Silver prices in Pakistan recorded a similar upward trend. The per tola price of silver rose by Rs88 to reach an all-time high of Rs4,792.