Gold prices in Pakistan continue to climb

KARACHI: Gold prices in Pakistan moved higher on Wednesday, mirroring an upward trend in global markets. According to figures released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold climbed by Rs 1,200 per tola, bringing the new rate to Rs443,062.

Prices for 10 grams of gold also rose, registering an increase of Rs 1,029 to settle at Rs 379,854. The latest uptick follows Tuesday’s trading session, when the yellow metal recorded a decline of Rs 1,900 per tola, ending the day at Rs 441,862.

On the international front, gold continued its upward momentum. Global prices gained $12 to reach $4,207 per ounce, including a $20 premium, as investors awaited fresh signals from US Federal Reserve Chair Jerome Powell. Market participants widely expect the Fed to announce an interest rate cut later in the day, a move that typically supports precious metal prices.

Silver prices also surged in the domestic market. The metal rose by Rs 265 per tola, settling at Rs 6,367.

Globally, silver extended its record-breaking rally. Spot silver advanced 0.6 per cent to $61.06 per ounce, after touching a new all-time high of $61.46 earlier in the session.

Web Desk