Gold prices in Pakistan staged a strong recovery on Tuesday, bouncing back sharply after suffering a major decline in the previous session due to a downturn in international markets.
According to data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola surged by Rs. 16,300, reaching Rs. 464,062. Similarly, the rate for 10 grams of gold witnessed a significant rise of Rs. 13,975, climbing to Rs. 397,858. This rebound reflects renewed momentum in the local bullion market following a steep drop a day earlier.
On Monday, gold prices had fallen dramatically, with the per tola rate dropping to Rs. 447,762 after a massive decline of Rs. 43,500 during the trading session. The sharp fall had raised concerns among investors and traders, as it mirrored weakness in the global market.
However, the international gold market showed signs of recovery, which played a key role in lifting domestic prices. Globally, gold prices increased by $163 per ounce, pushing the rate up to $4,413, along with an added premium of $20. This upward movement in international bullion rates helped restore confidence in the local market.
Silver prices also followed a similar trend and recorded gains. The price of silver per tola rose by Rs. 570, settling at Rs. 7,454. The recovery in both gold and silver indicates improved sentiment in the precious metals market after a period of volatility.
Overall, the sharp rebound suggests that the earlier decline was temporary, and the market is now stabilizing with support from positive global trends.
Also Read: Big Drop in Gold Prices in Pakistan
