With an increase in Rs1,300, the price of a tola of 24 karat of gold surged to an all time new high of Rs190,600.
According to rates issued by the Sarfa Bazaar Association President Al-Hajj Haroon Rasheed Chand, the price of a tola (11.6 grams) of pure gold had created a new record in price on Tuesday by rising to Rs189,300.
On Wednesday, the prices increased by another Rs1,300 to Rs190,600. This is the first time in the history of the precious metal that it has risen to such a level.
Meanwhile, the price of 10 grams of 24 karat gold also increased by Rs1,115 to rise to Rs163,409.
The price of 10 grams of 22 karat gold, which is used by people to make jewelry, rose by Rs1,021 to Rs149,791.
Meanwhile, the cost of an ounce of gold in the international market fell by $13 to $1,925.
The undercost in Dubai gold rates remained at Rs3,500.
Price of silver
The price of silver remain unchanged in the local and international markets on Wednesday.
The price of a tola of 24 karat silver was Rs2,100.
Similarly, the price of 10 grams of 24 karat silver was Rs1,800.41.