Gold prices in Pakistan continued to climb new peaks on Wednesday, in line with their increase in the international rates. In the local market, gold price per tola reached Rs410,278 after a single-day rise of Rs3,500.
Similarly, 10-gram gold was sold at Rs351,747 after it registered an increase of Rs3,001, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Tuesday, gold price per tola reached Rs406,778 after a gain of Rs3,178 during the day.
The international rate of gold also increased today. As per APGJSA, the rate was at $3,890 per ounce (with a premium of $20), an increase of $35 during the day.
Moreover, silver price increased by Rs50 per tola to reach Rs4,826.
Internationally, gold prices surged to a record high on Wednesday, driven by investor demand for safe-haven assets after the official start of the US government shutdown and as soft labour data bolstered expectations of Federal Reserve rate cuts.
Spot gold was up 0.1% at $3,861.99 per ounce, as of 0359 GMT, after hitting an all-time high of $3,875.32.
US gold futures for December delivery gained 0.7% to $3,901.40.
