Gold prices in Pakistan maintained their upward trajectory on Thursday in line with their increase in international rates. In the local market, the price of gold per tola surged by Rs1,500, clocking in at Rs277,000, which is the latest record high in Pakistan.

Similarly, 10-gram gold was sold at Rs237,482 after it recorded an increase of Rs1,285, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Wednesday, gold price had increased by Rs2,500 to settle at Rs275,500.

Meanwhile, the international rate of gold increased on Thursday. As per APGJSA, the rate was at $2,665 per ounce (with a premium of $20), and was up by $12 during the day.

Silver prices remained stable at Rs3,050 per tola.

On Wednesday, gold prices hit the then-record high level of Rs275,500 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.