Gold prices reached another historic high in the local market after increasing by Rs 1000 per tola.

According to Sindh Sarafa Jewelers Association, the price of gold has suddenly reached Rs.144,000 per tola.

The price of gold increased by Rs857 per 10 grams to settle at Rs123,457.

Gold is considered a hedge against soaring inflation and is often used as a safe store of value during times of political and economic uncertainty.

In the international market, the price of gold decreased by $14 per ounce to close at $1,819.

Meanwhile, silver prices in the local market increased by just Rs20 to settle at Rs1,560 per tola.