On Saturday, gold prices rebounded in both international and Pakistani markets, partially recovering the losses recorded the previous day, while silver continued to decline in Pakistan’s local market.
In global trading, gold gained approximately $70 per ounce, reaching $5,042. This increase reflected renewed bullish momentum in international precious metals markets, as investors responded to market dynamics and demand for safe-haven assets.
Similarly, Pakistan’s domestic gold market experienced notable gains. According to dealers, the price per tola rose by Rs7,000, reaching Rs526,962, while the rate for 10 grams increased by Rs6,001 to Rs451,784. This recovery comes after a steep drop in gold prices on Friday, when per tola rates fell by Rs8,600 to Rs519,962, and the 10-gram price slipped by Rs7,373 to Rs445,783. The previous day’s decline occurred despite some recovery in the international market, driven by profit-taking and market adjustments.
In contrast, silver prices in Pakistan continued to weaken. The local rate per tola decreased by Rs105 to Rs8,219, and the 10-gram price fell by Rs90 to Rs7,046. This ongoing decline highlights the divergence between gold and silver performance in the domestic market, where silver has remained under pressure due to lower demand and market fluctuations.
Data from the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) shows that international gold prices had previously eased by about $86 per ounce on Thursday, closing near $4,972 amid profit booking and market corrections. Local silver also faced significant losses, dropping roughly Rs501 per tola to close at Rs8,324.
Overall, Saturday’s market activity marked a partial recovery for gold both internationally and in Pakistan, while silver continued its downward trend, reflecting ongoing volatility and differing market conditions for precious metals.
Also Read: Gold Holds Firm Despite Global Swings, Silver Hits Big
