Gold price rose by Rs4,300 in Pakistan

The price of gold rose with a hike on both international and global level on Wednesday.

In the local market, according to All Pakistan Gems and Jewelers the price of gold in Pakistan climbed to a record of Rs486,162 per tola with an increase of Rs4,300.Meanwhile, the price of 10 grams of gold rose to Rs416,805 with an increase of Rs3,687.

In the global market, the spot gold prices increased by 1% to 4,632.03 dollars an ounce at 0715 GMT after touching an intraday record high of 4,639.42 dollars an ounce. The February US gold futures contracts rose 0.9% to 4,639.50 dollars.

Silver prices also registered sharp gains. Spot silver jumped 3.6% to $90.11 per ounce and has surged nearly 27% so far this year.

Locally, silver per tola rose by Rs500 to a new high of Rs9,575, while the price per 10 grams increased by Rs429 to Rs8,209.