Gold prices recorded a sharp increase on Monday in both local and international markets, with rates rising significantly in Pakistan’s bullion market.

The price of gold per tola increased by Rs7,700 to reach Rs480,962.

Similarly, the price of 10 grams of gold rose by Rs6,602, taking it to Rs412,347.

In the international market, gold prices increased by $37 to reach $4,509 per ounce.

It is worth noting that a day earlier, gold prices in the global bullion market had already risen by $77 per ounce, pushing the rate to $4,586.

Meanwhile, the price of silver increased by Rs430 to reach Rs8,895 per tola, a new all-time high.