Gold prices in Pakistan climbed to another record high on Wednesday in line with their gain in the international market. In the local market, gold price per tola reached Rs440,900, a new all-time high, after an increase of Rs5,800 during the day.
As per the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs378,000 after it accumulated Rs4,972.
On Tuesday, gold price per tola reached Rs435,100, a new all-time high, after an increase of Rs6,900 during the day.
As per APGJSA, the international rate of gold also saw an increase today. The rate was at $4,198 per ounce (with a premium of $20), a gain of $58.
Similarly, silver price per tola increased by Rs90 to reach Rs5,337.
Meanwhile, international gold rose to a fresh high just shy of the $4,200-per-ounce level on Wednesday, buoyed by rising expectations of further U.S. rate cuts, while renewed US-China trade worries also boosted safe-haven demand.
Spot gold was up 0.8% at $4,173.56 per ounce, as of 0252 GMT, after hitting a record high of 4,186.68 earlier in the session. U.S. gold futures for December delivery gained 0.7% to $4,192.90