Massive hike comes amid rise in international gold rates, further driving up local market prices Gold prices in Pakistan continued their upward trajectory on Wednesday, with the price of gold per tola surging by Rs2,000, reaching a new all-time high of Rs285,400.
This increase comes amid a rise in international gold rates, further driving up local market prices. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10-gram gold also saw a significant hike of Rs1,714, bringing the new rate to Rs244,684.
The local market has witnessed a steady rise in gold prices this week, with Tuesday’s trading seeing an increase of Rs1,100, pushing the price per tola to a then-record Rs283,400. In international markets, gold prices experienced an upward surge on Wednesday, with the price per ounce rising by $20, reaching $2,757. The APGJSA also reported an additional premium of $20 during the day.
Global demand for the precious metal has been bolstered by ongoing geopolitical tensions, particularly in the Middle East, and uncertainties surrounding the upcoming US elections, leading investors to seek safer assets like gold.
