Gold prices in Pakistan surged by Rs. 13,900 per tola on Wednesday, taking the price of 24-karat gold to Rs. 426,036.

The price of 10 grams of 24-karat gold also jumped by Rs. 11,917 to Rs. 365,257, according to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Global Gold Prices

The sharp increase followed a rally in the international market, where gold prices climbed by $139 to reach $4,035 per ounce.

Silver prices also recorded a significant increase in the local market. The price of silver rose by Rs. 295 per tola to Rs. 5,663.

Gold Rebounds With Rs. 13,900 Jump

The latest surge comes after gold prices remained unchanged on Tuesday, following a Rs. 2,400 increase on Monday.

Gold has now recovered strongly, moving above its October 28 level of Rs. 425,636 per tola, when prices had increased by Rs. 3,500 in a single day.