KARACHI – Gold prices in Pakistan saw a sharp rise on Wednesday, following an upward trend in the international market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold jumped by Rs. 6,600 per tola, reaching Rs. 349,400.
The price of 10 grams of gold also increased significantly, climbing Rs. 5,659 to settle at Rs. 299,554.
This follows a modest increase on Tuesday, when the per tola rate rose by Rs. 300 to reach Rs. 342,800.
On the global front, gold prices also experienced a notable uptick. The international rate stood at $3,310 per ounce, up by $66, including a premium of $20, as reported by APGJSA.
Silver prices mirrored the upward movement, with the per tola rate increasing by Rs. 56 to reach Rs. 3,466.
Globally, gold prices inched higher on Tuesday, supported by a weaker dollar and cautious investor sentiment amid ongoing geopolitical and trade developments. As of 1102 GMT, spot gold was trading at $3,236.94 per ounce, while US gold futures were slightly higher at $3,239.40 per ounce.
The dollar index slipped by 0.2%, making gold more attractive to holders of other currencies. Market analysts noted that investor attention remains focused on US-China trade relations and renewed hopes for progress in the Russia-Ukraine peace talks.
“Optimism surrounding trade discussions and geopolitical developments continues to drive sentiment in the gold market,” said Ricardo Evangelista, senior analyst at brokerage firm ActivTrades.
