ISLAMABAD: Gold prices in Pakistan rose by thousands of rupees on Wednesday, with the price of 24-karat gold increasing by Rs3,500 per tola, according to the All Pakistan Gems and Jewellers Association.
The price of one tola of gold climbed to Rs425,636, while the rate for 10 grams increased by Rs3,001 to Rs364,914.
Gold prices are influenced by several domestic and international factors, including fluctuations in the US dollar, global economic uncertainty, geopolitical tensions and investor sentiment.
During periods of economic and political uncertainty, investors often turn to gold as a safe-haven asset. Increased demand can push international prices higher, while easing uncertainty may put downward pressure on prices.
In Pakistan, international gold rates and the rupee’s exchange rate against the US dollar also play a significant role in determining prices in the local bullion market.
