The price of Gold in Pakistan showed a strong recovery on Friday after a sharp decline a day earlier. The domestic market responded positively, with rates moving upward again.
According to data from the All Pakistan Gems and Jewellers Association, the price of Gold per tola increased by Rs3,000. This brought the new rate to Rs497,662. The rise comes after a major drop of Rs9,500 per tola in the previous session.
Similarly, the price of 10 grams of Gold also went up. It increased by Rs2,572, reaching Rs426,664 in the local market. The recovery has provided some relief to traders and investors.
The upward trend was also seen in the international market. The global price of gold increased by $30 per ounce. This pushed the international rate to $4,753 per ounce. Analysts say global trends often influence local prices in Pakistan.
Silver prices also followed a similar pattern. The per tola rate of silver increased by Rs130, reaching Rs8,014. This reflects a broader upward movement in precious metals.
Market experts believe that fluctuations in currency and global demand impact prices. Changes in international markets directly affect local trading rates. The recent rise indicates renewed buying interest.
Meanwhile, the Pakistan Stock Exchange (PSX) also showed positive performance. The benchmark index moved upward during early trading hours. This indicates improved investor confidence in the financial market.
The index was recorded at over 167,000 points during the session. It showed an increase of nearly 1,500 points compared to the previous close. Trading activity remained strong, with high volume recorded.
Analysts say the recovery in Gold prices and stock market gains reflect improving market sentiment. However, they also warn that prices may remain volatile due to global uncertainties.
Investors are advised to monitor both local and international developments. These factors can quickly influence market trends and prices.
In other news read more about: Gold Price Surges by Rs15,700 per Tola in Pakistan Amid Market Volatility
Overall, the rise in Gold prices marks a positive shift after recent losses. The coming days will determine whether this recovery continues or faces new challenges.
