Gold and silver prices surge to unprecedented levels

Gold prices hit a record high on Wednesday, both globally and in Pakistan, as investors turned to the precious metal to protect their money from losing value.

In the global market, the price of gold rose by $53 per ounce, reaching $2,868. This pushed up local prices, with 24-karat gold in Pakistan increasing by Rs5,300 per tola, reaching Rs299,600.

The price of 10 grams of gold also rose by Rs4,158 to Rs256,859.

Silver prices also went up, with silver per tola increasing by Rs36 to Rs3,350 and the price of 10 grams rising by Rs31.50 to Rs2,872.

Experts believe that higher demand for gold due to economic uncertainty and currency devaluation could keep prices high for the near future.