Gold prices in Pakistan rose sharply on Wednesday, following international market trends. The price per tola increased by Rs3,500 to reach Rs419,862. Meanwhile, 10-gram gold was sold at Rs359,963 after a Rs3,000 rise. On Tuesday, gold had dropped by Rs14,000 per tola.
The international gold rate also climbed, reaching $3,975 per ounce with a $20 premium. This reflected a $35 gain compared to previous trading sessions. US gold futures for December delivery eased slightly to $3,971.20 per ounce, while spot gold stood at $3,957.42 per ounce.
Read more: Gold prices plunge by Rs 14,000 a tola
Silver prices also increased. The rate per tola rose by Rs110, closing at Rs5,034. Market analysts linked the rise to global movements and investor anticipation of a US Federal Reserve interest rate cut.
Experts note that easing US-China trade tensions slightly limited the strength of bullion. Despite this, local demand pushed domestic prices higher. Traders remain watchful of international cues for future movements.
Read more: Gold prices rebound after five-day slump
Investors are advised to monitor both local and global trends. Gold continues to remain a favored asset amid economic uncertainty. Analysts predict prices may continue rising if international gains persist.