Gold prices in Pakistan continued their upward trend on Wednesday, reflecting gains in the international bullion market and renewed investor demand for safe-haven assets. The local market saw noticeable movement as traders adjusted rates in response to global price shifts and currency pressures influencing bullion trading sentiment.
In the domestic bullion market, the price of gold per tola increased by Rs1,300 in a single day, pushing the rate to Rs516,062. This rise came after a sharp drop recorded earlier in the week, highlighting ongoing volatility and rapid fluctuations that have recently characterized precious metal trading across the country.
Similarly, the price of 10 grams of gold climbed by Rs1,114, reaching Rs442,439. Market analysts say such swings often occur when international prices shift quickly, prompting local dealers to revise rates accordingly while factoring in exchange rates, import costs, and domestic demand patterns.
Just a day earlier, gold prices had fallen significantly, with the per-tola rate declining by Rs9,000 to settle at Rs514,762. That sudden drop had briefly relieved buyers, but the latest increase suggests the downward trend was temporary and that the market remains sensitive to global developments.
In the international market, gold prices rose by $13 per ounce to trade at $4,933, a figure that includes a $20 premium. Analysts note that global uncertainty, inflation expectations reopening, and investor hedging activity often contribute to such steady gains in bullion values worldwide.
Silver prices also moved upward in the local market, increasing by Rs32 per tola to reach Rs8,046. Traders believe that if global precious metal prices continue climbing, domestic rates for both gold and silver may remain elevated in the coming days.
Also read: Gold and Silver Prices Today
