Gold prices in Pakistan saw a notable increase on Wednesday, rising by Rs500 per tola, following a steady trend for the past two days.
The price of gold per tola reached Rs306,500, reflecting a similar rise in international markets.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10 grams of gold also rose by Rs429, reaching Rs262,774. This increase came after the price remained unchanged at Rs306,000 per tola on Tuesday.
The international gold market mirrored this upward trend. On Wednesday, the international price of gold was reported at $2,915 per ounce, with a premium of $20, marking an increase of $5 during the day. This global surge in gold prices contributed to the local rise, as is often the case.
In addition to gold, the price of silver also saw a hike. Silver per tola increased by Rs52, reaching Rs3,440, continuing its upward momentum.
These changes come as gold remains a popular investment and safe-haven asset, especially during times of economic uncertainty. The fluctuations in the gold market are closely linked to global economic conditions, including currency values and inflation rates, which influence both local and international pricing trends.
The recent price hike is expected to impact gold buyers and investors, with many closely monitoring the market for further shifts. As global economic conditions evolve, further fluctuations in gold prices can be anticipated.
