Gold prices jumped again in Pakistan on Wednesday as gains in the international market pushed per tola rate above Rs 516000.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola increased by Rs 1300 to reach Rs 516062 in the local market. The price of 10 grams of gold also rose by Rs 1114, settling at Rs 442439.

This fresh increase comes a day after gold per tola had closed at Rs 514762 on Tuesday, following a sharp single-day decline of Rs 9000. The latest rebound has once again created uncertainty among investors and buyers.

Traders said the rise in domestic prices was mainly driven by gains in the international bullion market. Globally, gold prices climbed by $13 to reach $4933 per ounce, with an added premium of $20. Analysts believe fluctuations in the US dollar and global economic concerns are continuing to influence bullion rates worldwide.

Also Read: Sindh makes driving training mandatory before license

Market experts say investors are closely watching international trends, as any further increase could push local gold prices to new record highs. Meanwhile, buyers planning weddings or investments are facing renewed pressure due to the rising costs.

Silver prices also followed the upward trend. The price of silver per tola increased by Rs 32 to settle at Rs 8046, reflecting overall strength in the precious metals market.