Gold prices in Pakistan witnessed broad-based gains on Wednesday, with both gold and silver posting significant increases, driven by a strong uptick in international commodity prices.
According to the latest data from the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola rose by Rs. 1,200, reaching Rs. 443,062.
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Following suit, 24-karat gold per 10 grams increased by Rs. 1,029 to Rs. 379,854, while 22-karat gold per 10 grams advanced by Rs. 934, closing at Rs. 348,212.
The upward momentum was supported by the global market, where the international gold price per ounce gained $12, trading at $4,207.
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The silver market experienced an even more pronounced surge. Domestically, silver per tola (24Kt) soared by Rs. 265 to Rs. 6,367, and silver per 10 grams jumped by Rs. 227 to Rs. 5,458.
The rally was echoed internationally, with the silver price per ounce making a substantial leap of $2.65 to $60.95.
The Association confirmed that local precious metal rates are calculated based on interbank exchange rates, ensuring they reflect real-time global price movements. All quoted prices are for a purity of 999.1 (24K).
Market analysts pointed to a combination of a weaker US dollar and renewed safe-haven demand amid ongoing geopolitical tensions as key drivers behind the day’s rally.
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On the other hand, the sharp rise in silver, often more volatile than gold, indicated robust industrial demand alongside investment flows.
