Gold Price Jumps by Rs. 7,900 per Tola in Pakistan
Gold prices in Pakistan recorded a sharp increase on Wednesday, following a rise in international bullion prices.
According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold increased by Rs. 7,900 per tola, reaching Rs. 457,236 per tola.
The latest increase comes a day after gold prices declined by Rs. 4,000. On Tuesday, 24-karat gold had closed at Rs. 449,336 per tola.
10-Gram Gold Price Also Increases
The price of 24-karat gold also climbed on a 10-gram basis.
The rate for 10 grams increased by Rs. 6,773, settling at Rs. 392,006.
The significant movement in local gold prices came alongside a similar upward trend in the international bullion market.
International Gold Prices Rise
In the international market, gold prices gained $79 per ounce, reaching $4,347 per ounce, including a $20 premium.
The rise in global gold prices contributed to the increase in domestic bullion rates.
Gold prices in Pakistan are influenced by international market movements, currency exchange rates, and changes in local demand and supply.
Silver Prices Also Move Higher
Silver prices also recorded an increase on Wednesday.
The price of silver rose by Rs. 140 per tola, reaching Rs. 6,942 per tola.
With both gold and silver prices moving higher, investors and consumers are closely watching developments in international precious metal markets and their impact on local rates.
