RECORDER REPORT

KARACHI: Gold and silver prices continued with the uptrend to hit new all-time highs on Wednesday, as the global markets rallied to fresh record levels, traders said.

The world’s surging bullion markets sent ripples across the local trading, causing the gold prices to grow to a new historic height of Rs486,162 per tola and Rs416,805 per 10 grams, up by Rs4,300 and 3,687, respectively, according to All Pakistan Sarafa Gems and Jewellers Association.

Global market gained USD43, pushing gold bullion value to fresh record highs of USD4,638 per ounce while silver prices moved up by USD5 to settle at new historic benchmark of USD91 per ounce, it cited.

Domestic silver prices also soared accordingly, reaching new highs of Rs9,575 per tola and Rs8,209 per 10 grams, rising by Rs500 and Rs429, respectively, the association added.

It is worth noting that the open market may trade gold and silver at different prices as compared to those officially established by the association.