KARACHI: On Wednesday, gold prices in Pakistan registered a notable increase, in line with the rise observed in the international market.

In the local market, the price per tola reached Rs280,500, reflecting a single-day gain of Rs3,100. Similarly, the 10-gram gold price rose to Rs240,484, with an increase of Rs2,658, according to rates provided by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). The international gold rate also saw an upward trend, with the rate standing at $2,693 per ounce after a $31 gain during the day. Silver prices followed suit, climbing by Rs50 to settle at Rs3,450 per tola. Globally, gold prices hit a two-week high, driven by escalating geopolitical tensions and expectations of a U.S.

Federal Reserve rate cut. Spot gold increased by 0.2% to $2,698.47 per ounce, while US gold futures rose by 0.6% to $2,734.70. This surge in gold prices reflects increased investor confidence amid economic uncertainties and a weakening U.S. dollar. The rise is further fueled by concerns over inflation and the Federal Reserve's monetary policy adjustments in response to changing economic dynamics.