Pakistan, Dec. 17 -- Gold prices surged sharply in both international and domestic markets on Wednesday, reflecting heightened uncertainty across global financial systems. Silver also posted a historic rise, reaching record levels locally and internationally as investor demand strengthened.

In the international bullion market, gold prices increased by $27 per ounce, settling at $4,312. Analysts noted that persistent inflation concerns and fluctuating currencies continued to support demand for precious metals worldwide.

According to the All Pakistan Sarafa Association, the surge in global prices had an immediate impact on Pakistan's local market. The price of 24-karat gold per tola rose by Rs2,700 to reach Rs453,562, marking one of the h...