In the local market, the price of 24-karat gold per tola increased by Rs1,600, settling at Rs275,900, according to data shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Similarly, the price of 10 grams of 24-karat gold hiked by Rs1,372, taking it to Rs236,540.

In the international market also, the price of gold saw a slight rise of $16 on Wednesday, reaching $2,647 per ounce with an additional premium of $20.

Silver prices in the local market also decreased significantly by Rs50, and reached at Rs3,400 per tola.