Gold prices recorded a sharp increase in both the local and international markets on Tuesday, pushing the price of the precious metal to fresh highs in Pakistan.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola rose by Rs4,700 to Rs429,236.

The price of 10 grams of gold also increased by Rs4,029, reaching Rs368,000.

In the international market, gold prices climbed by $47 per ounce to $4,068.