KARACHI – Gold prices in Pakistan ended a two-day losing streak on Wednesday in line with upward trend in international market.
Data shared by All Pakistan Gems and Jewellers Association showed per tola price jumped by Rs900 to reach Rs425,036. Meanwhile, the price of 10 grams of gold stood at Rs364,399 after an increase of Rs771.
Silver prices remained unchanged, with one tola holding steady at Rs6,289.
In the international market, gold gained $9 per ounce, taking the price to $4,026 per ounce.
Meanwhile, oil prices continued to move higher on Wednesday, extending the previous session’s rally as escalating tensions involving Iran heightened concerns over global energy supplies and key shipping routes.
Brent crude futures increased by $1.71, or about 2%, to trade at $86.44 per barrel by 0806 GMT. U.S. West Texas Intermediate (WTI) crude also gained ground, rising $1.43, or roughly 1.8%, to $80.77 per barrel.
Market sentiment was supported by reports that U.S. President Donald Trump had reinstated a naval blockade targeting Iranian ports. At the same time, Iran’s Islamic Revolutionary Guard Corps warned that it could shut down additional export routes used by the United States and its allies, adding to fears of wider disruptions to global energy trade.
The latest developments follow a strong performance in the previous trading session, when both major oil benchmarks closed about 2% higher, reaching their highest levels in approximately one month.
