Gold prices in Pakistan bounced back sharply on Thursday after a major increase in international gold prices.
According to the All-Pakistan Gems and Jewellers Sarafa Association, 24-karat gold rose by Rs13,700 per tola.
The latest increase pushed the price of 24-karat gold to Rs471,936 per tola.
The price of 10-gram gold also increased by Rs11,746 to reach Rs404,609.
Gold had lost Rs3,700 per tola on Wednesday, closing at Rs458,236.
The sharp recovery came as international gold prices also recorded a significant increase during Thursday’s trading.
Gold in the international market jumped by $137 to reach $4,495 per ounce, including a $20 premium.
The latest movement highlights continued volatility in both international and local gold markets.
Local gold prices are influenced by international bullion rates, currency movements and developments in global markets.
The sharp rise has once again pushed gold prices close to the Rs472,000 per tola level in Pakistan.
The precious metal has remained highly volatile in recent trading sessions.
Meanwhile, silver prices also recorded a significant increase in the local market on Thursday.
The price of silver increased by Rs317 per tola to reach Rs7,169.
The latest increase in both gold and silver prices comes amid strong movements in international precious metal markets.
Market participants are closely monitoring global bullion prices for further direction.
Any additional changes in international gold rates could also affect prices in Pakistan during the coming sessions.
Consumers and investors are expected to keep a close watch on daily price movements before making purchases.
The latest rates reflect a sharp turnaround from Wednesday’s decline in gold prices
Also read: Gold Price in Pakistan Today
