In the local market, the price of gold per tola surged by Rs2,000, reaching Rs284,300.

Similarly, the price for 10 grams of gold jumped by Rs1,714, settling at Rs243,741, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Friday, gold had dipped by Rs800, finishing at Rs282,300.

Internationally, gold prices also rose on Saturday, with APGJSA reporting a rate of $2,748 per ounce (including a $20 premium), an increase of $22 for the day.

Meanwhile, silver prices remained unchanged at Rs3,350 per tola. Earlier this week, gold prices peaked at a record high of Rs285,400 per tola.

The recent surge in gold prices is attributed to rising tensions in the Middle East and uncertainties surrounding the upcoming U.S. elections, which have driven demand for safe-haven assets. Gold is often viewed as a safeguard against economic and geopolitical instability.

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Gold prices see massive increase in Pakistan

Gold prices record uptick in Pakistan