Gold prices in Pakistan rebounded on Wednesday, aligning with international market gains after a steep drop in the previous session. The price of gold per tola increased by Rs1,400, reaching Rs271,900, according to the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA). Additionally, the 10-gram gold rate rose by Rs1,200, now priced at Rs233,111.
On Tuesday, gold prices had dropped sharply by Rs7,000, settling at Rs270,500. Internationally, gold also saw an increase, with rates hitting $2,607 per ounce, marking a $14 rise during the day, APGJSA reported.
Silver prices remained steady at Rs3,250 per tola.
Gold has been reaching record levels recently, driven by geopolitical tensions in the Middle East and uncertainties around the upcoming U.S. election, both of which have bolstered demand for safe-haven assets. Globally, gold prices ticked up as investors took advantage of recent dips, with attention now shifting to the U.S. inflation report, which could influence the Federal Reserve’s future policy direction. Gold is widely viewed as a hedge against economic and geopolitical instability.
