Gold prices jump in Pakistan as international market turns bullish
The upward trend in gold prices continued as both domestic and global bullion markets witnessed fresh gains. The increase came just one day after a significant drop that had provided temporary relief to buyers.
According to the All Pakistan Gems and Jewellers Association, the price of 24-karat gold per tola increased by Rs1,523. Following the rise, the per tola gold rate climbed from Rs467,762 to Rs469,285 in local markets.
The price of 24-karat gold per 10 grams also moved higher. After an increase of Rs1,305, the rate rose from Rs401,030 to Rs402,335.
Gold prices also gained strength in the international market. Analysts say global demand and investor sentiment continued to support the precious metal.
The international gold price increased by $14 per ounce. As a result, the global rate rose from $4,454 per ounce to $4,468 per ounce.
The latest increase came after a major fall in gold prices a day earlier. The previous session had seen a sharp decline of Rs8,600 per tola, which had pushed local prices significantly lower.
That drop had attracted attention from buyers hoping for further reductions. However, the latest rebound has once again raised concerns among consumers planning to purchase gold.
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While gold became more expensive, silver prices moved in the opposite direction. The local bullion market recorded a decline in silver rates.
The price of 24-karat silver per tola fell by Rs97. After the decrease, silver was available at Rs7,797 per tola.
The latest rise shows that gold prices remain highly volatile and can change quickly within a short period. Buyers and investors are closely watching both local and international market trends.
The recovery after a major decline suggests that demand for gold remains strong. If global prices continue to rise, local gold rates may remain under upward pressure in the coming days.
