Gold prices in Pakistan witnessed a sharp rally on Wednesday, climbing close to the historic Rs. 5 lakh per tola mark amid a strong surge in global bullion markets.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola surged by Rs. 15,300, reaching Rs. 494,062. Meanwhile, the rate for 10 grams of gold increased by Rs. 13,117 to settle at Rs. 423,578.

The latest spike follows Tuesday’s gains, when gold prices had already climbed by Rs. 2,800 per tola to close at Rs. 478,762.

Internationally, gold recorded significant momentum, rising by $153 to reach $4,713 per ounce, including a $20 premium in the global market — a key factor driving domestic prices higher.

Silver prices also moved upward, gaining Rs. 200 to settle at Rs. 7,984 per tola in the local market.

The continued surge reflects heightened investor demand for safe-haven assets amid global economic uncertainty and currency volatility.