Pakistan’s gold prices are rising due to a worldwide trend.

Tuesday saw a dramatic increase in gold prices in Pakistan, following the global trend.

The All Pakistan Sarafa Gems and Jewellers Association reports that the price of 10 grams of gold climbed by Rs3,515 to Rs422,206, while the price of 24-karat gold per tola jumped by Rs4,100 to Rs492,462.

Gold prices increased by $41 per ounce on the foreign market, bringing the global rate to $4,701 per ounce.

In the meantime, silver prices increased significantly as well; 24-karat silver per tola increased by Rs395 to reach Rs8,908.

The rise was ascribed by traders to both the continuous demand for precious metals by investors and changes in the global bullion market.