Gold prices in Pakistan witnessed a sharp increase as it jumped to Rs287,450 per tola on Wednesday.
Rs4,250 per tola increased was witnessed during that day, according to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA).
The price of 10 grams of 24-karat gold also saw an incase of Rs3,642, as it was being retailed at Rs246,440.
Meanwhile, 10-gram gold of 22-karat purity rose by Rs3,346 to reach Rs225,911.
This spike in local gold prices aligns with a notable increase in the international market, where gold prices surged by $40, reaching $2,751 per ounce.
Silver prices also experienced an upward trend. The price of one tola of 24-karat silver increased by Rs59.40, reaching Rs3,431.
Experts attributed the hike to global market dynamics and a weaker local currency.