Gold prices in Pakistan rose to a new all-time high on Tuesday, tracking gains in the international market.

In the local market, gold price per tola climbed by Rs4,300 to settle at Rs493,662, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The price of 10-gram gold increased by Rs3,686 to Rs423,235.

A day earlier, gold had gained Rs7,500 per tola to close at Rs489,362.

In the international market, gold prices rose by $43 to $4,713 per ounce, including a premium of $20.

Silver prices also moved higher, with per tola silver gaining Rs87 to close at Rs9,869.