Gold prices in Pakistan increased again on Wednesday, following gains in the international market. The upward trend reflects continued strength in global bullion trading.
In the local market, the price of gold per tola rose by Rs. 1,300. As a result, the new rate reached Rs. 516,062. This increase comes after notable volatility earlier in the week.
Similarly, the price of 10-gram gold climbed by Rs. 1,114. It was sold at Rs. 442,439 in domestic markets. The rise aligns closely with movements in international prices.
Comparison With Previous Session
On Tuesday, gold per tola had closed at Rs. 514,762. However, that session recorded a sharp decline of Rs. 9,000 during the day. Therefore, the latest increase signals renewed recovery in bullion rates.
Market analysts observe that local gold prices often mirror international fluctuations. Consequently, even modest global gains can influence domestic pricing trends.
International Market Performance
In the global market, gold prices increased by $13 per ounce. The international rate reached $4,933 per ounce, including a premium of $20. This steady climb provided support to local bullion markets.
Although the increase appears moderate, it helped restore investor confidence. Moreover, traders responded quickly to the positive momentum in overseas exchanges.
Silver Prices Also Edge Higher
Meanwhile, silver prices also recorded gains in Pakistan. The price per tola rose by Rs. 32. It settled at Rs. 8,046 per tola in the local market.
Silver often follows gold’s direction, especially during periods of global price movement. Therefore, its upward shift remained consistent with the broader trend.
Market Outlook
Gold prices in Pakistan continue to react to international developments. Whenever global rates strengthen, local markets adjust accordingly. However, short-term fluctuations remain common due to currency pressures and trading activity.
Investors closely monitor daily movements to assess buying and selling opportunities. Additionally, jewellers track global premiums to determine retail pricing strategies.
In conclusion, the latest increase reflects the direct impact of global gains on Pakistan’s bullion market. If international prices maintain momentum, domestic rates may remain firm in the coming sessions.
