KARACHI: The rate of 24-karat gold rising by Rs800 per tola, reaching Rs462,936. This uptick marked a reversal from the previous two days of decline, driven by a boost in global bullion markets amid ongoing geopolitical tensions and uncertainty about US monetary policy.
According to the All-Pakistan Gems and Jewellers’ Sarafa Association (APGJSA), the price of 10-gram gold increased by Rs686 to Rs396,893. Earlier, gold had fallen by a total of Rs3,400 over Monday and Tuesday, with a decline of Rs2,400 on Monday and Rs1,000 on Tuesday, leaving the market subdued.
The recent rise on Wednesday helped partially recover the losses from earlier sessions. International gold prices also gained, with the association reporting an $8 increase to $4,404 per ounce. The previous day had seen gold dip by $10, with the price falling to $4,396 per ounce, reflecting continued volatility in global markets affecting local rates.
