Gold prices in Pakistan recorded a sharp increase, with the price of one tola rising by Rs13,900 to reach Rs426,000, according to the All Pakistan Gems and Jewellers Association.
The price of 10 grams of gold also increased by Rs11,917, taking the new rate to Rs365,257.
Internationally, gold prices climbed by $139 per ounce to reach $4,035, reflecting a significant rise in the global market.
The increase came after gold prices remained unchanged in Pakistan's local bullion markets the previous day.
Several factors influence international and domestic gold prices, including movements in the US dollar, global economic uncertainty, geopolitical tensions and investor sentiment.
Gold is generally considered a safe-haven asset during periods of economic and political uncertainty. When investors seek protection against market volatility, demand for gold can increase, pushing prices higher.
In Pakistan, local gold prices are influenced not only by international market rates but also by fluctuations in the exchange rate between the Pakistani rupee and the US dollar.
The latest increase has once again drawn attention to the volatility of gold prices and their impact on consumers, jewellery buyers and investors.
