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

The gold price per ounce in the international gold market has also crossed $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 Rs10,900 per tola, reaching Rs532,062, as global rates rose amid steady investor demand.

Also Read: Gold, silver prices in Pakistan hit new record high

The price of 10 grams of gold also climbed by Rs9,345 to Rs456,157, according to the APSGJA.

The price of 10g of 22-karat gold increased by Rs8,567 to reach Rs418,159.

In the international market also, gold prices increased by $109 per ounce to settle at $5,097. The uptick reflects sustained global interest in precious metals amid economic uncertainty and shifting currency trends.

Also Read: Gold blasts past $5,000 to record high

Silver followed a similar trajectory, with the price per tola of 24-karat silver rising by Rs627 to reach the highest-ever rate of Rs11,428. The price of 10 grammes of 24k silver hiked by Rs537 to be sold for Rs9,797.

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