KARACHI: Gold prices continued their upward momentum in the local market on Wednesday, rising by Rs14,800 per tola, in line with fresh gains in the international bullion market.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-carat gold increased to Rs529,162 per tola. The price of 10-gram gold also moved higher, gaining Rs11,632 to settle at Rs415,880.
Bullion traders said the latest increase reflected renewed buying interest after the recent correction, as investors continued to view gold as a preferred hedge amid persistent uncertainty in global financial markets. Internationally, gold prices rose by $148 to $5,064 per ounce, supporting higher domestic rates.
Dealers noted that Pakistan’s gold market closely follows international trends, with local prices typically adjusted at a premium of around $20 per ounce to cover exchange rate movements, import costs and domestic market factors. They added that fluctuations in the US dollar and expectations around global interest rates were also influencing trading sentiment.
Silver prices also posted modest gains alongside gold. The metal rose by Rs109 to Rs9,255 per tola, while the price of 10-gram silver increased by Rs93 to Rs7,934.Market participants said volatility is likely to persist in the coming days as investors respond to global economic signals and geopolitical developments, keeping precious metals in focus as safe-haven assets.
