Gold jumps Rs15,700 on US-Iran truce

Gold prices in Pakistan recorded a sharp increase on Wednesday, tracking gains in the international market, where bullion climbed to a near three-week high amid easing geopolitical tensions and a softer US dollar. In the local market, the price of gold per tola jumped by Rs15,700 to reach Rs504,162, according to the rates issued by the All-Pakistan Gems and Jewellers Sarafa Association. Similarly, the price of 10 grams of gold rose by Rs13,460 to Rs432,237. The surge comes a day after gold prices had declined, with per-tola rate settling at Rs488,462 on Tuesday following a drop of Rs3,000. Meanwhile, silver also witnessed an upward trend, increasing by Rs440 to Rs8,184 per tola. In the international market, spot gold gained 1.2% to $4,756.37 per ounce by 11:43 am EDT, after rising more than 3% earlier in the session to its highest level since March 19, according to Reuters. US gold futur...