Gold prices in Pakistan witnessed a significant increase on Wednesday, driven by a surge in international rates. The per tola gold price reached Rs287,450, reflecting an increase of Rs4,250 in the local market.
Similarly, the price of 10-gram gold rose by Rs3,642, settling at Rs246,440, as reported by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
This latest rise follows a marginal increase on Tuesday when the per tola gold price climbed by Rs300 to settle at Rs283,200.
Globally, gold prices also experienced a notable hike. The international gold rate rose by $40 during the day, with prices reaching $2,751 per ounce, including a $20 premium.
Silver prices also recorded a rise in the local market. The per tola price of silver increased by Rs59.4, settling at Rs3,431.
Pakistan’s gold market has been closely following global trends, with local rates influenced by fluctuations in the international market. The recent hike has pushed prices closer to the all-time high of Rs287,900 per tola, recorded in October last year.
These price increases come amid economic uncertainty and rising demand for precious metals as safe-haven investments. The local market remains sensitive to international price movements and currency exchange rates, which play a critical role in determining the cost of gold and silver.
Gold continues to be a popular investment choice in Pakistan, with buyers closely monitoring market trends to make informed purchasing decisions. However, the ongoing volatility highlights the need for caution among investors as prices remain subject to rapid changes influenced by global economic factors.
