After gold prices witnessed a downward trend last week, local and international markets saw a continuous upward trend in gold prices on Wednesday.
Analysts have suggested the increasing vulnerability of global economic environment such as fears of tariff wars after US President Donald Trump’s new tariffs imposed on Canada, Mexico and China, as the reason behind prices increasing.
In Pakistan, price of 24 carat gold per tola increased by Rs700 while its exact price reaching Rs307,000. Meanwhile, the 10 grams of gold price surged by Rs601, with its exact price at Rs263,203.
Since the international markets also increased for gold prices, the gold price in bullion market rose by $5 per ounce, reaching $2,921.
Similarly, prices of silver also increased as silver per tola increased by Rs54 reaching its current price Rs3,369.
Last week, the gold prices reached Rs300,000 per tola in local markets while the price of 10 grams of gold reached Rs257,201.
In a similar fashion, gold in the international bullion market reached the price of $2,857.
