Int'l market rally pushes gold above Rs 504,000 per tola in Pakistan

Gold and silver prices witnessed a significant surge in both international and local markets, reflecting a strong upward trend in the global bullion trade on Wednesday. 

According to the 24NewsHD TV channel, in the international market, gold prices jumped by $157 per ounce, reaching $4,814, signalling heightened demand and investor interest.

In Pakistan, the impact was immediate and substantial, as the price of gold per tola increased by Rs15,700, reaching Rs504,162. 

Similarly, the price of 10 grams of gold rose by Rs13,460, climbing to Rs432,237, marking one of the sharpest single-day increases in recent times.

Silver prices also followed the upward trajectory, with the price per tola increasing by Rs440 to reach Rs8,184. 

Market analysts attribute the surge to global economic uncertainties and increased safe-haven buying, which continues to drive precious metal prices higher.

The sharp rise in bullion rates is expected to impact local jewellery markets and consumer demand, as buyers may adopt a cautious approach in the face of soaring prices.

Reporter: Ashraf Khan