Gold prices in Pakistan recover strongly as global market turns higher
The sharp rebound has renewed interest among investors and buyers across the country.
The increase followed a recovery in the global gold market. International gold prices rose by $24 per ounce, taking the rate to $4,018 per ounce.
According to the All Pakistan Sarafa Association, the price of 24-karat gold per tola in Pakistan increased by Rs2,400. After the latest rise, the new rate reached Rs424,236 per tola.
The price of 10 grams of gold also recorded a significant increase. It climbed by Rs2,057 to settle at Rs363,714.
Silver prices also moved upward in the local market. The price of silver per tola increased by Rs41 and reached Rs6,070.
The latest surge came only a day after gold prices in Pakistan recorded a major decline. That drop had temporarily eased pressure on buyers and investors.
Also read: Deutsche Bank prediction: Will the gold price continue to rise by 2031?
During the previous trading session, the price of 24-karat gold per tola had fallen by Rs3,600. Following that decrease, the rate had dropped to Rs421,836.
Similarly, the price of 10 grams of gold had decreased by Rs3,086. The revised price had been fixed at Rs361,656.
The international market had also witnessed a decline a day earlier. Gold prices had fallen by $36 per ounce and reached $3,994 before recovering.
Market experts say gold prices in Pakistan largely depend on movements in the international market. Changes in global demand, economic uncertainty, and investor sentiment often influence local rates.
The latest recovery has once again raised questions about whether gold can maintain its upward momentum. Investors are now closely monitoring global developments for further clues.
Gold prices in Pakistan continue to move up and down with global market trends. The quick recovery after a major fall shows that demand for the precious metal remains strong.
If international prices continue rising, local gold rates may also remain under upward pressure. However, sudden market changes can still lead to sharp fluctuations.
