Gold prices in Pakistan registered a significant gain on Wednesday in line with their increase in the international rate. In the local market, gold price per tola stood at Rs280,500 after a single-day increase of Rs3,100.
The 10-gram gold was sold at Rs240,484 after it registered an increase of Rs2,658, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Tuesday, gold price per tola increased by Rs1,000 in Pakistan.
The international rate of gold increased on Wednesday. As per APGJSA, the rate was at $2,693 per ounce (with a premium of $20) after it gained $31 during the day.
Silver rates also saw an increase of Rs50, clocking in at Rs3,450 per tola.
Globally, gold prices scaled a two-week peak on Wednesday, supported by escalating geopolitical tensions and expectations of another rate cut by the U.S. Federal Reserve next week, and ahead of the closely watched U.S. inflation report later in the day.
Spot gold was up 0.2% at $2,698.47 per ounce, as of 0253 GMT, and hit its highest since Nov. 25.
US gold futures rose 0.6% to $2,734.70.
Source: Brecorder
