Gold prices in Pakistan jump as global bullion market rallies

WEB DESK: Gold prices in Pakistan extended their upward momentum on Wednesday, tracking strong gains in the international bullion market.

According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola increased by Rs4,600 in the local market after international gold prices posted a significant rise.

The association said the upward trend may continue, as global bullion prices are expected to remain firm in the coming sessions.

Following the latest increase, the price of one tola of gold climbed to Rs433,836, up from Rs429,236. Likewise, the price of 10 grams of gold rose by Rs3,944 to Rs371,944.

Analysts say local gold prices are largely influenced by fluctuations in international bullion rates, exchange rate movements, and broader economic conditions. Investors and traders are keeping a close watch on global market trends, which are expected to determine the direction of domestic gold prices in the days ahead.