The recovery in gold prices on Thursday ended a five-day losing streak, with the precious metal gaining ground in both domestic and international markets. According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold increased by Rs3,600 per tola, reaching Rs433,836 in the local market. The price of 10 grams of gold also rose by Rs3,086 to settle at Rs371,944.
Silver Prices Remain Stable
In contrast to gold, silver prices remained unchanged in the domestic market. One tola of silver was quoted at Rs6,421, showing no movement from the previous session. The stability in silver prices comes amid a broader recovery in precious metals globally.
Market Context
The recent decline in gold prices had been driven by a stronger US dollar and rising bond yields, but Thursday's rebound suggests renewed buying interest. Market analysts attribute the recovery to bargain hunting and geopolitical uncertainties that continue to support safe-haven demand. The All Pakistan Sarafa Gems and Jewellers Association noted that the local market closely tracks international trends, with any fluctuations in global rates directly impacting domestic prices.
The association also highlighted that demand for gold remains steady, particularly from the jewelry sector, as consumers take advantage of price dips. However, the overall outlook remains cautious, with investors watching for further cues from the US Federal Reserve's monetary policy stance.
