Gold prices recorded a sharp increase in Pakistan on Wednesday. Domestic bullion rates followed gains in international markets amid strong investor demand.
The All Pakistan Sarafa Gems and Jewellers Association reported higher prices for both gold and silver. Meanwhile, global precious metal markets continued their upward trend.
Domestic Gold And Silver Prices Rise
According to the association, 24-karat gold per tola reached Rs. 433,836. The price increased by Rs. 4,600 compared to the previous session.
Similarly, 10 grams of 24-karat gold climbed to Rs. 371,944. This represented a gain of Rs. 3,944.
Meanwhile, 22-karat gold was priced at Rs. 340,961 per 10 grams. The rate rose by Rs. 3,615 during the trading session.
Silver also posted modest gains in the local market. The price of 24-karat silver per tola increased by Rs. 7 to Rs. 6,403.
Likewise, 10 grams of silver reached Rs. 5,489. The increase amounted to Rs. 6 from the previous rate.
Global Demand Supports Bullion Rally
International gold prices maintained their upward momentum on Wednesday. Spot gold traded near $4,126 per troy ounce.
At the same time, silver hovered around $59.6 per troy ounce. Safe-haven demand continued to support precious metals.
Analysts linked the rally to rising geopolitical tensions in the Middle East. Additionally, a weaker U.S. dollar boosted investor interest in bullion.
Sustained central bank purchases also strengthened market sentiment. Furthermore, futures trading reflected continued optimism among investors.
Gold futures on the MCX touched Rs. 144,950 per 10 grams. Meanwhile, silver futures crossed Rs. 226,000 per kilogram.
However, market experts warned that price volatility could continue. Investors are closely watching upcoming U.S. Federal Reserve policy signals and interest rate developments.
