KARACHI: Gold prices in the local market saw a sharp rise of Rs1,650 per tola on Wednesday, driven by a steady increase in international gold rates. This surge pushed gold prices to a new all-time high, as global economic concerns fuelled investor demand for the precious metal.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola reached Rs319,000, while 10-gram gold rose by Rs1,415, bringing its price to Rs273,491.
In the international market, gold prices advanced by $16 per ounce, reaching $3,038 per ounce. The rising trend has been attributed to economic instability and increased interest in gold as a safe-haven investment.
On the other hand, silver prices remained unchanged in the local market. The rate of silver per tola stood at Rs3,555, while 10-gram silver remained at Rs3,047. Market analysts link the continuous rise in gold prices to global trade tensions, which have intensified due to policy changes under the Trump administration.