KARACHI – Gold prices in Pakistan continued their upward trend on Wednesday, with one tola now priced at Rs529,162. This marks a significant increase of Rs14,800 compared to the previous day.
According to the All Pakistan Sarafa Gems and Jewelers Association, the price of 10 grams of gold also rose sharply. It increased by Rs12,689, reaching Rs453,671. The local surge mirrors trends in the international market, where gold gained $148 per ounce, taking its price to $5,064.
Experts say rising gold prices are influenced by global demand, inflation concerns, and fluctuations in currency rates. Investors often turn to gold as a safe-haven asset during times of economic uncertainty, boosting local market prices.
The Pakistan Stock Exchange (PSX) also showed strong recovery alongside rising gold prices. The KSE-100 index reached 188,000 points, with intraday trading gains of over 1,300 points, closing at 188,730. Analysts suggest that investor confidence in both commodities and equities contributed to the market rebound.
In recent days, gold prices in Pakistan have experienced notable jumps. On Tuesday, one tola increased by Rs24,000 to Rs514,862, while the 10-gram rate rose by Rs20,576 to reach Rs440,982. These sharp gains have prompted jewelers and investors to monitor the market closely.
Market observers noted that factors such as international gold price trends, currency fluctuations, and domestic economic conditions continue to affect local gold prices. With global uncertainties, demand for gold is expected to remain high.
Buyers are advised to stay updated on daily rates before making purchases, as the market remains volatile. Jewelers confirmed that the demand for both investment and jewelry-grade gold remains strong despite rising prices.
In other news read more about Gold Prices Surge on Safe-Haven Demand Amid Rising US-Iran Tensions
The continued rise in gold prices highlights the metal’s importance as a reliable investment and a measure of economic sentiment. Authorities and traders alike are keeping a close watch on trends in both the local and international markets.
