In a remarkable turn of events, both the global and Pakistani gold markets witnessed a sharp and significant surge in the price of the precious yellow metal on Tuesday.

The 24News HD TV Channel reported that the price of gold hit new peaks on Tuesday, leaving both traders and investors closely observing the market dynamics.

The price of one tola (equivalent to approximately 11.66 grams) of pure 24-karat gold has experienced a substantial uptick, soaring by Rs4,600 to reach an impressive Rs2,34,500.

Likewise, the price of 10 grams of pure 24-karat gold has surged by Rs3,944, crossing the Rs2,00,000 mark and settling at Rs2,01,046.

The impact of this gold rally is also evident in the pricing of 22-karat gold, which is commonly utilized in jewellery crafting across Pakistan. Trading at Rs1,84,292 per 10 grams, this surge underscores the widespread effects of the upward trend.

In contrast, the price of pure 24-karat silver remains impervious to these fluctuations, remaining steadfast at Rs2,800 per tola and Rs2400.54 per 10 grams.

Turning our attention to the international market, a similar trend emerges as the price of gold per ounce climbed by US$10 to hit US$1,901 on Tuesday.