KARACHI: Gold price  maintained upward trajectory on Wednesday in line with their increase in international rates.

In local market, price of gold per tola was up by Rs 2,500, clocking in at Rs 275,500 per tola, which is latest record high in Pakistan. Similarly, ten gram gold was sold at Rs 236,197 after it recorded an increase of Rs 2,144 per ten gram, according to rates shared by All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Meanwhile, international rate of gold surged on Wednesday. As per APGJSA, rate was at $ 2,653 per ounce (with premium of $20), an increase of $ 25 an ounce during day. Silver prices also gained Rs 100 per tola to settle at Rs 3,050 per tola. Experts have attributed recent increase in gold prices to developments on global front, including escalating geopolitical tensions in Middle East, Fed rate cuts and soaring demand from major markets like China and India.