Gold prices in Pakistan were back to winning ways on Wednesday in line with an increase in the international rate. In the local market, gold price per tola increased to Rs242,000 after a single-day gain of Rs1,100.

The 10-gram gold was sold at Rs207,476 after a jump of Rs943, according to rates shared by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Tuesday, gold price per tola saw a decline of Rs7,800.

The international rate of gold crept higher on Wednesday. As per APGJSA, the rate was set at $2,320 per ounce (with a premium of $20) after an increase of $11 during the day.

Meanwhile, silver rates remained unchanged at Rs2,650 per tola.

On Saturday, gold price per tola hit an all-time high of Rs252,200 in Pakistan.

The safe-haven asset saw a record surge due to geo-political tensions in the Middle East and central banks adding to their gold reserves.