Gold prices in Pakistan rebounded on Wednesday after a sharp decline in the previous trading session, with the price of 24-karat gold increasing by Rs900 per tola. The recovery follows positive movement in the international bullion market, where gold prices also edged higher.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold rose to Rs425,036 per tola, reflecting renewed strength in the local precious metals market.
The price of 10 grams of 24-karat gold increased by Rs771, reaching Rs364,399, while 10 grams of 22-karat gold climbed Rs707 to Rs334,044.
The upward trend was also seen in global markets, where gold prices gained $9 per ounce, taking the international rate to $4,026 per ounce. Analysts attribute the modest recovery to fluctuations in global market sentiment and investor demand for safe-haven assets.
In contrast, silver prices remained unchanged in both domestic and international markets. The price of silver per tola stayed at Rs6,289, while 10 grams of silver remained unchanged at Rs5,391.
International silver prices also showed no movement, holding steady at $58.10 per ounce.
Gold prices in Pakistan are influenced by international bullion rates and fluctuations in the exchange rate, resulting in daily changes in local market prices. Market participants continue to monitor global economic developments and currency trends, which play a key role in determining the direction of precious metal prices.
Also read: Gold Prices Remain Strong Amid Shifting Market Sentiment
