Gold prices in Pakistan surged on Wednesday, mirroring gains in the international market. The per tola price of the yellow metal reached Rs488,962 after a gain of Rs11,100 during the day. Similarly, 10-gram gold was sold at Rs419,206 after it increased by Rs9,517, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
Previous day's rates
On Tuesday, gold price per tola stood at Rs477,862 after a decline of Rs2,100 during the day. The international rate of gold was up by $111 to reach $4,666 per ounce (with a premium of $20). Meanwhile, the price of silver increased by Rs223 to reach Rs8,072 per tola.
Market trends
The surge in gold prices comes amid global economic uncertainties and fluctuating currency markets. Investors often turn to gold as a safe-haven asset during times of volatility. The rise in international rates directly impacts domestic prices, as Pakistan imports most of its gold.
Analysts suggest that the upward trend may continue if global tensions persist. However, local demand and currency stability also play crucial roles in determining final prices for consumers.
