Gold prices in Pakistan experienced a significant increase on Wednesday, closely following the upward trend seen in international bullion markets. This rise reflects a broader global momentum that has been driving gold prices higher over recent sessions.
Internationally, gold prices climbed by $35 per ounce, reaching a notable level of $4,811. This surge marks a continuation of the precious metal’s strong performance, influenced by various economic factors and investor sentiment worldwide. The global rally has had a direct impact on local markets, prompting a similar upward movement in Pakistan’s gold rates.
In the domestic market, the price of 24-karat gold rose by Rs3,500 per tola, settling at Rs503,462. Likewise, the cost of 10 grams of gold increased by Rs3,001, reaching Rs431,637. These gains were observed during the third trading session of the week, highlighting sustained demand and bullish sentiment among traders and investors.
Market dealers pointed out that the rise in Pakistan’s gold prices is largely driven by the international market dynamics. The global increase in bullion rates continues to influence local pricing, reflecting the interconnected nature of commodity markets. This trend is expected to keep shaping the domestic gold market in the near term as global factors evolve.
