Pakistan, Aug. 16 -- Gold prices in Pakistan rose sharply on Wednesday, with the price increasing by Rs4,200 per tola, according to the All Pakistan Sarafa Gems and Jewellers Association.

The latest increase pushed the price of one tola of gold to Rs463,936 in the local bullion market.

Read more: Gold price falls Rs 3,500 per tola

The price of 10 grams also increased by Rs3,601, reaching Rs397,750, according to the association.

The latest rise has pushed domestic gold prices higher, increasing costs for consumers purchasing jewellery and other gold products.

Meanwhile, international gold prices continued their upward trend for a third consecutive session amid stronger demand in global markets.

Read more: The price of one tola gold i...