Gold prices in Pakistan maintained their upward trajectory on Wednesday in line with their increase in international rates. In the local market, the price of gold per tola was up by Rs2,500, clocking in at Rs275,500, which is the latest record high in Pakistan.

Similarly, 10-gram gold was sold at Rs236,197 after it recorded an increase of Rs2,144, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Tuesday, gold price had increased by Rs1,100 to settle at Rs273,000.

Meanwhile, the international rate of gold surged on Wednesday. As per APGJSA, the rate was at $2,653 per ounce (with a premium of $20), an increase of $25 during the day.

Silver prices also gained Rs100 to settle at Rs3,050 per tola.

On Tuesday, gold prices hit the then-record high level of Rs273,000 per tola in Pakistan.

Experts have attributed the recent increase in gold prices to developments on the global front, including escalating geopolitical tensions in the Middle East, Fed rate cuts and soaring demand from major markets like China and India.