After a decline in the previous session, gold prices in Pakistan surged on Tuesday, reflecting the rise in international rates. In the local market, the price of gold per tola increased by Rs1,600, bringing it to Rs285,000.

Similarly, the price for 10 grams of gold rose by Rs1,372, now selling at Rs244,342, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Monday, the price of gold had dropped by Rs900, closing at Rs283,400.

In the international market, gold prices also saw an increase on Tuesday. As reported by APGJSA, the rate was $2,755 per ounce (with a premium of $20), up by $16 for the day.

Silver prices remained unchanged at Rs3,350 per tola.

Last week, gold prices reached a record high of Rs285,400 per tola.

The recent surge in gold prices can be attributed to rising tensions in the Middle East and uncertainty surrounding the upcoming US elections, which have increased demand for safe-haven assets.