KARACHI: Gold prices in Pakistan rose sharply on Wednesday after declining for three consecutive trading sessions, with the price of one tola increasing by Rs4,300, according to the All Pakistan Gems and Jewellers Sarafa Association.
The price of one tola of gold reached Rs441,636, up from Rs437,336 recorded on Tuesday.
The price of 10 grammes of gold also increased by Rs3,686 to Rs378,631.
The latest increase came after gold prices had fallen for three consecutive sessions. On Saturday, September 26, the price of one tola declined by Rs2,100, followed by a Rs12,800 drop on Monday, September 28, and a further Rs800 decline on Tuesday.
In the international market, gold prices also moved higher, rising by $43 to $4,191 per ounce.
The latest increase in domestic prices comes amid a sharp rise in international gold prices, with local bullion rates typically reflecting movements in the global market as well as changes in the domestic currency and market conditions.
Despite the latest increase, gold prices remain highly volatile and can change significantly in response to developments in global markets.
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