The price of gold in Pakistan continued its upward climb on Wednesday, following a rise in international rates.
In the local market, gold per tola surged to Rs. 410,278, marking a single-day increase of Rs. 3,500.
Similarly, 10-gram gold was sold at Rs. 351,747 after rising by Rs. 3,001, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Tuesday, the price per tola had reached Rs. 406,778, gaining Rs. 3,178 in a day.
The international gold rate also saw an increase, standing at $3,890 per ounce with a $20 premium, up $35 during the day, APGJSA reported. Silver prices in Pakistan also edged higher, rising Rs. 50 per tola to Rs. 4,826.
Read More: Gold Price Jumps by Over Rs. 130,000 Per Tola in Pakistan This Year
Globally, gold hit record highs on Wednesday as investors sought safe-haven assets amid the US government shutdown and weaker-than-expected US labor data, which fueled expectations of Federal Reserve rate cuts.
Spot gold rose 0.1% to $3,861.99 per ounce as of 0359 GMT, after touching an all-time peak of $3,875.32.
