KARACHI: The gold prices in Pakistan have surged to historic highs after consecutive increases in recent days.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold rose by Rs. 3,178 per tola, reaching Rs. 406,787.

Similarly, the price of 10 grams of gold increased by Rs. 2,725, bringing it to Rs. 348,746.

Meanwhile, international gold prices also witnessed an upward trend, with rates climbing by $37 to reach $3,855 per ounce.

Earlier, Gold prices in Pakistan opened higher on first day of new business week after they closed at record high in line with the trend in international market previous week.

According to the Saraffa Association, the opening price of 24-karat gold per tola stood at 397,700 while the rate for 10 grams stood at Rs340,963.

Gold is a valuable commodity widely traded in global markets. Known for its rarity and durability, gold has been used for centuries as a store of value and hedge against inflation. It is traded in various forms, including physical bullion, futures contracts, and exchange-traded funds (ETFs).

Investors often turn to gold during economic uncertainty, as it tends to retain value when other assets decline.