Gold prices in Pakistan increased on Wednesday in line with their rise in the international market. In the local market, gold price per tola reached Rs349,400 after it gained Rs6,600 during the day.
Similarly, 10-gram gold was sold at Rs299,554 after increasing by Rs5,659, according to the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Tuesday, gold price per tola reached Rs342,800 after it accumulated Rs300 during the day.
The international rate of gold also jumped on Wednesday. The rate was at $3,310 per ounce (with a premium of $20), a gain of $66, as per APGJSA.
Meanwhile, silver price per tola increased by Rs56 to Rs3,466.
Internationally, gold prices eked out gains on Tuesday, buoyed by a lower dollar, while investors cautiously turned their attention to further developments in Russia-Ukraine peace talks and US tariff policy. Spot gold was up 0.2% at $3,236.94 an ounce as of 1102 GMT. US gold futures gained 0.2% to $3,239.40.
The dollar index was down 0.2% against its rivals, making gold less expensive for other currency holders. “Main focus of traders in the gold market today is on the optimism around the US-China trade and also on renewed hopes for progress towards peace in the Russia-Ukraine conflict,” Ricardo Evangelista, senior analyst at brokerage firm ActivTrades, said.
American Dollar Exchange Rate