Gold prices continue to rise in global and local markets

Gold prices have continued to rise both globally and locally today.

According to reports, the price of gold in the international bullion market increased by $10 per ounce, reaching a new level of $2,652 per ounce.

In addition to this, domestic gold prices have also seen a rise. The price of one tola (11.66 grams) of gold increased by 1,000 Pakistani Rupees, reaching 277,000 PKR per tola.

Meanwhile, the price of 10 grams of gold rose by 858 PKR, bringing it to 237,483 PKR.

Despite the rise in gold prices, the price of silver remained stable.

The price of one tola of silver remained unchanged at Rs 3,350, while the price of 10 grams of silver also remained the same at Rs 2,872.08.

Gold prices edged higher on Wednesday due to the risks stemming from the tariff plans proposed by President-elect Donald Trump, with investors waiting for U.S. economic data for guidance on the U.S. Federal Reserve's interest rate stance in 2025.

Spot gold gained 0.2% to $2,653.35 per ounce, as of 0928 GMT. U.S. gold futures rose 0.1% to $2,667.20.

The risk of a Trump trade war, sticky inflation and worries about fiscal stability as U.S. Treasury yields rise will be current and future themes that are potentially risk strengthening, which will be gold supportive, said Ole Hansen, head of commodity strategy at Saxo Bank.

Trump will be sworn in as president of the United States on Jan. 20. His proposed tariffs and protectionist trade policies are expected to be inflationary and could spark trade wars, adding to gold's allure as a safe-haven asset.