Gold prices in Pakistan climbed to a new all-time high on Saturday, tracking a sharp surge in the international market, dealers said.

In the local market, the price of gold per tola rose by Rs6,500 to settle at Rs521,162.

The rate for 10 grams increased by Rs5,573 to Rs446,812, according to figures released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The latest increase follows Friday’s rally, when gold gained Rs9,100 per tola to close at Rs514,662.

In the international market, gold prices jumped by $65 to $4,988 per ounce, including a premium of $20, the association said.

Silver prices also continued their upward trend, rising by Rs526 to reach a new record of Rs10,801 per tola.

Market participants attributed the gains to strong international prices and sustained investor demand.