Gold prices surged sharply in both local and international markets on Monday, pushing the precious metal to new historic highs.

According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 10 grams of gold jumped by Rs9,345, taking it to Rs456,157 for the first time.

Similarly, the price of gold per tola recorded a massive increase of Rs10,900, reaching an all-time high of Rs532,062.

This is being described as the highest gold price ever recorded in Pakistan’s history.

Gold prices also rose significantly in the international markets, climbing by $109 to reach $5,097 per ounce.

Market analysts attributed the gold price rise to inflationary concerns and a growing investor shift towards safe-haven assets.