According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold rose by Rs2,100 per tola, reaching Rs349,200.
Similarly, the price of 10 grams of gold increased by Rs1,800, now priced at Rs299,382.
The surge follows a notable rise in the international bullion market, where gold prices climbed by $21 per ounce to settle at $3,310 — a new high reflecting strong global demand amid economic uncertainties.
Jewellers attributed the domestic price hike to both the international trend and the ongoing depreciation of the Pakistani rupee, which continues to impact import costs.
Meanwhile, spot gold was down 0.8% at $3,313.23 an ounce, as of 0935 GMT. US gold futures fell 0.7% to $3,323.80.
Elsewhere, spot silver gained 0.4% to $33.30 an ounce, platinum rose 0.2% to $988.60 and palladium lost 0.5% to $944.22.