The local gold market saw a significant bullish trend, as both gold and silver prices recorded a notable increase, mirroring similar surges in international markets.
On Wednesday, the price of 24-karat gold increased, with the per tola price rising by Rs 1,300 to Rs 541,262. Similarly, the 10-gram price of 24-karat gold reached Rs 464,044, up by Rs 1,114.
The 10-gram price of 22-karat gold also saw a substantial increase of Rs 1,022, closing at Rs 425,389 at the end of the day. This local increase was in line with global trends, where the price of gold in the international market rose by $13 to $5,185.
Silver followed a similar trend, with its value increasing across the board. The per tola price of 24-karat silver concluded at Rs 9,554, up by Rs 268.
Similarly, the 10-gram price of 24-karat silver became Rs 8,191 after an increase of Rs 230. Internationally, the value of silver increased by $2.68, trading at $90.70.
The coordinated surge in both precious metals reflects a promising day for the commodities market.