In domestic markets, the price of gold rose by a substantial Rs3,000 per tola, bringing the cost of one tola of gold to an all-time high of Rs536,562.

The sharp increase was also observed in the price of 10 grams of gold, which went up by Rs2,572, to settle at Rs460,015 in the domestic market.

Internationally, the price of gold increased by $30, bringing the cost of one ounce of gold to $5,138.

Economists suggest that fluctuations in the global market directly impact bullion markets in Pakistan.

The continuous increase in gold prices has caused concern among families planning weddings, especially during the upcoming wedding season after Ramazan.

According to the jewellers’ association, if the current trend in the international market continues, further price increases in the coming days cannot be ruled out.