Gold prices in Pakistan experienced a significant surge on Wednesday, with the price per tola climbing by Rs4,200, the All Pakistan Sarafa Gems and Jewellers’ Association (APSGJA). This sharp increase pushed the local gold rate to Rs463,936 per tola, marking a notable rise in the bullion market. Similarly, the price for 10 grams of gold also saw a substantial hike, increasing by Rs3,601 to reach Rs397,750.
This upward movement in gold prices has made purchasing jewelry considerably more expensive for consumers in Pakistan. The local market’s price escalation reflects broader trends in the global precious metals sector, where gold has been gaining momentum amid economic uncertainties and inflation concerns.
Meanwhile, the international gold market continued its upward trajectory for the third consecutive day. Spot gold prices rose by 1 percent, reaching $4,432.74 per ounce, the highest level recorded since June 5. In addition, US gold futures climbed 1.7 percent, settling at $4,492.60 per ounce, signaling strong investor demand for the safe-haven metal.
Other precious metals also experienced gains amid this bullish trend. Silver prices increased by 0.9 percent to $66.30 per ounce, platinum rose 0.7 percent to $1,765.26 per ounce, and palladium advanced 0.8 percent to $1,394 per ounce. These movements highlight a broader rally in precious metals markets, driven by global economic factors and investor sentiment.
