Gold prices rose significantly in Pakistan on Wednesday, reflecting an upward trend in the international market.

The latest rates show a sharp increase in both per tola and per 10 grams prices in the local bullion market.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola increased by Rs3,700, reaching Rs543,262 in the local market.

Similarly, the price of 10 grams of 24-karat gold rose by Rs3,172, bringing the new rate to Rs465,759.

The increase reflects the broader trend in the global bullion market, where gold prices have also moved upward.

Global gold prices move higher

In the international market, the price of gold increased by $37 per ounce, reaching $5,205.

The rise in global bullion prices often directly affects local gold rates in Pakistan, as domestic prices are largely influenced by international market trends and exchange rates.

Silver prices remain unchanged

While gold prices climbed sharply, silver prices remained stable in the local market.

The price of silver per tola stayed unchanged at Rs9,354, while 10 grams of silver remained steady at Rs8,019.

In the international market, silver prices also held steady at $88.70 per ounce, showing no change from the previous session.