Gold prices in Pakistan increased on Wednesday following a rise in international gold rates. The price of gold in the local market moved higher as global demand and market trends pushed prices upward.
According to data shared by the All-Pakistan Gems and Jewellers Sarafa Association, the price of gold per tola increased by Rs. 3,700 during the day. After this rise, the new price reached Rs. 543,262 per tola in the local market.
Similarly, the price of 10 grams of gold also increased. It rose by Rs. 3,172, bringing the new rate to Rs. 465,759. Traders said that changes in the global market usually have a direct effect on gold prices in Pakistan, which is why local rates also increased.
Just a day earlier, gold prices had already seen a major jump. On Tuesday, the price per tola had climbed to Rs. 539,562 after increasing by Rs. 6,200 in a single day.
This shows that the gold market has been experiencing strong upward movement in recent days.
In the international market, gold prices also recorded a noticeable increase. The global price rose by $37, reaching $5,205 per ounce, including a premium of $20.
Market experts say that fluctuations in the global economy, currency movements, and investor demand often influence gold prices worldwide.
Meanwhile, silver prices in Pakistan remained unchanged. The price of silver stayed stable at Rs. 9,354 per tola.
Traders believe that gold prices may continue to fluctuate depending on global market trends and economic developments in the coming days.