The prices of gold and silver in Pakistan and globally witnessed another massive hike on Saturday, taking the rate of the metals to a new all-time high.

The gold price per ounce in the international gold market has also reached close to $5,000 for the first time in history.

According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold increased by a massive Rs6,500 per tola, reaching Rs521,162, as global rates rose amid steady investor demand.

The price of 10 grams of gold also climbed by Rs5,573 to Rs446,812, according to the APSGJA.

Also Read: Gold, silver prices in Pakistan hit record highs

The price of 10g of 22-karat gold increased by Rs5,109 to reach Rs409,592.

In the international market also, gold prices increased by $65 per ounce to settle at $4,988. The uptick reflects sustained global interest in precious metals amid economic uncertainty and shifting currency trends.

Silver followed a similar trajectory, with the price per tola of 24-karat silver rising by Rs526 to reach the highest-ever rate of Rs10,801. The price of 10 grammes of 24k silver hiked by Rs451 to be sold for Rs9,206.

Gold and silver have become the most expensive metals due to purchases by central banks of many countries and the ongoing geopolitical conditions.