Gold jumps Rs11,100 per tola in Pakistan

Gold and silver prices recorded a sharp increase on Wednesday in both international and domestic markets, ending a three-day downward trend.

According to the All-Pakistan Gems and Jewellers Sarafa Association, the price of gold in the local market rose significantly in line with global gains. Gold per tola increased by Rs11,100 to reach Rs488,962, while the rate for 10 grams climbed by Rs9,517 to Rs419,206.

In the international market, gold prices rose by $111 per ounce to $4,666, contributing to the upward movement in local rates.

Silver prices also followed the same trend. The price per tola increased by Rs223 to Rs8,072, while 10 grams rose by Rs191 to Rs6,920. Globally, spot silver gained 4.6% to $76.16 per ounce, while platinum and palladium also posted gains.

The increase comes after consecutive declines earlier in the week, when gold and silver prices had fallen in both local and global markets amid sustained selling pressure.