Gold prices again soared both in the local and international markets on Wednesday.

According to the latest figures shared by the All-Pakistan Gems and Jewellers Sarafa Association, the price of 10 grams of gold rose by Rs3,000, reaching Rs359,963, while the per tola price surged by Rs3,500 to Rs419,862.

In the international market, gold prices climbed by $35, with the precious metal now trading at $3,975 per ounce.

Meanwhile, the silver price per tola clocked in at Rs5,034 following an increase of Rs110.

The rise in gold prices in international markets came ahead of a widely expected interest rate cut from the Federal Reserve, although easing US-China trade tensions kept bullion strength in check.