Gold prices in Pakistan recorded a sharp increase on Wednesday, with the per tola rate jumping by Rs10,000 to reach Rs437,936, following a rise in international gold prices.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10-gram gold also increased by Rs8,573, reaching Rs375,459.

The latest increase came after gold had declined by Rs500 on Tuesday, when the per tola price closed at Rs427,936.

In the international market, gold prices climbed by $100 to $4,155 per ounce, including a $20 premium, supporting the increase in domestic rates.

Meanwhile, silver prices also moved higher, rising by Rs273 to reach Rs6,624 per tola in the local market.