Gold prices in Pakistan registered a massive increase on Wednesday in line with their rise in international rates. In the local market, the price of gold per tola gained Rs4,250, clocking in at Rs287,450.
Similarly, 10-gram gold was sold at Rs246,440 after it registered an increase of Rs3,642, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Tuesday, gold price per tola increased Rs300 to settle at Rs283,200.
The international rate of gold increased on Wednesday. As per APGJSA, the rate was at $2,751 per ounce (with a premium of $20), an increase of $40 during the day.
Meanwhile, the silver price increased by Rs59.4, clocking in at Rs3,431 per tola.
In October last year, gold prices hit an all-time high of Rs287,900 per tola.
Internationally, gold prices hit an over 11-week peak on Wednesday, not far from an all-time peak touched last year, boosted by safe haven demand stemming from uncertainty surrounding US President Donald Trump’s trade policies and a softer dollar.
Spot gold added 0.3% to $2,751.89 per ounce as of 0502 GMT, after hitting its highest since Nov. 1 earlier in the session and closing in on its record peak of $2,790.15 hit in October.
US gold futures gained 0.3% to $2,768.40.
American Dollar Exchange Rate