KARACHI: After experiencing decline in first two days of week, gold price saw an increase on Wednesday, rising by Rs 600 per tola.

According to All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), price of 24-carat gold reached Rs 275,500 per tola. In addition to increase per tola, price for 10 grams of gold also rose by Rs 515, bringing it to Rs 236,197 per ten gram. Despite rise in local prices, international market showed different trend. Spot gold prices were down by 0.4 percent, trading at $ 2,652.62 per ounce. This disparity between local and international prices reflects impact of various economic factors, including currency fluctuations and local demand. Market analysts suggest that recent fluctuations in gold prices could be attributed to ongoing economic uncertainties both domestically and globally. Investors often turn to gold as safe-haven asset during times of volatility, influencing local market dynamics.