KARACHI: After a brief decline, gold prices have recorded a sharp increase across Pakistan, driven by a strong rebound in the international bullion market.
According to traders in the local bullion markets, the price of gold per tola rose by Rs 5,700, reaching Rs 460,262. Similarly, the price of 10 grams of gold increased by Rs 4,887, taking it to Rs 394,600.
The significant rise comes amid an upswing in global gold prices. In the international market, gold prices climbed by $57 per ounce to settle at $4,379.
It is worth noting that a day earlier, gold prices in the international bullion market had fallen by $24 per ounce to $4,322, which led to a corresponding decline in local markets. As a result, the price of 24-karat gold per tola had dropped by Rs 2,400 to Rs 454,562.
The latest surge reflects the volatility of the global precious metals market and its direct impact on domestic gold prices.
Earlier, gold prices in Pakistan recorded a sharp decline, with the price of gold falling by Rs2, 500 per tola, according to the All Pakistan Gems and Jewellers Association (APGJA).
The association said the per tola price of gold dropped to Rs456,962 across the country. Likewise, the price of 10 grams of gold decreased by Rs2,143 to Rs391,771.
In the international market, the price of gold fell by $25 to $4,346 from $4,371 per ounce.
Moreover, the price of silver per tola drop by Rs212 to Rs7,718, while the price of 10 grams of silver decreased by Rs182 to Rs6,616.
Internationally, Silver prices also declined by $2.12 to $72.43 per ounce.
