Gold prices recorded a sharp increase in both local and international markets on Monday, with the price of one tola of gold rising by Rs10,800 to reach Rs455,136 in Pakistan.

According to market data, the price of 10 grams of gold increased by Rs9,720, taking it to Rs389,600.

The surge followed a strong rally in the international market, where gold gained $108 per ounce to reach $4,327 per ounce.

The significant increase in global bullion prices was reflected in domestic rates, pushing gold to a new high in the local market.