Gold prices in Pakistan rebounded on Wednesday after a four-session decline, reflecting the rise in international rates. The price of gold per tola increased by Rs600, reaching Rs275,500, while 10-gram gold was sold at Rs236,197, following a Rs515 rise, as per the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
The international gold rate also saw an uptick, standing at $2,653 per ounce, with a premium of $20, marking a $6 increase during the day. Meanwhile, silver prices remained steady at Rs3,050 per tola.
Experts attribute the surge in gold prices to several global factors, including escalating geopolitical tensions in the Middle East, the U.S. Federal Reserve’s rate cuts, and increasing demand from major markets such as China and India. Last week, gold prices reached a record high of Rs277,000 per tola in Pakistan.
On the global front, spot gold held firm at $2,659.79 per ounce, as of 0325 GMT, despite a stronger dollar partially offsetting safe-haven demand driven by Middle Eastern tensions. US gold futures dropped slightly by 0.4%, settling at $2,680.90.
