Gold prices in Pakistan witnessed a sharp increase on Wednesday, with rates rising by Rs4,250 per tola, bringing the price of 24-karat gold to Rs287,450,
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 10 grams of 24-karat gold also climbed by Rs3,642, settling at Rs246,440. Meanwhile, 10-gram gold of 22-karat purity rose by Rs3,346 to reach Rs225,911.
This spike in local gold prices aligns with a notable increase in the international market, where gold prices surged by $40, reaching $2,751 per ounce.
Silver prices also experienced an upward trend. The price of one tola of 24-karat silver increased by Rs59.40, reaching Rs3,431, while 10 grams of silver saw a rise of Rs51.50, standing at Rs2,941. Internationally, silver prices edged up by $0.56, hitting $30.84 per ounce.
Experts ttributed the hike to global market dynamics and a weaker local currency. With ongoing uncertainties in the global economy, precious metals remain a preferred choice for investors.
