Gold prices rebounded in both international and local markets on Thursday, recovering from recent declines, while silver prices remained unchanged, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
International and Local Gold Rates Rise
In the international bullion market, the price of gold increased by $36 per ounce to reach $4,113. Domestically, the price of gold per tola rose by Rs3,600 to Rs433,836, and the price of 10 grams of gold increased by Rs3,086 to Rs371,944.
Meanwhile, silver prices held steady. The price of silver per tola remained unchanged at Rs6,421, while the price of 10 grams of silver also stayed stable at Rs5,504.
Earlier Declines on Wednesday
On Wednesday, gold prices had declined in global and local markets. In the international bullion market, the price of gold fell by $47 per ounce, reaching $4,078 per ounce. According to the APGJSA, the price of gold per tola in the local market decreased by Rs4,700, falling to Rs430,236. The price of 10 grams of gold declined by Rs4,029 to Rs368,858.
Silver also dropped on Wednesday: the price of silver per tola fell by Rs138 to Rs6,421, and the price of 10 grams of silver decreased by Rs119 to Rs5,504.
Tuesday's Decline
On Tuesday, gold prices declined in global and local markets. In the international bullion market, the price of gold decreased by $25 per ounce, falling to $4,125. According to the APGJSA, the price of gold per tola declined by Rs2,500 to Rs434,936, and the price of gold per 10 grams decreased by Rs2,143, settling at Rs372,887.
Silver also fell on Tuesday: the price of silver per tola dropped by Rs120 to Rs6,559, and the price of silver per 10 grams declined by Rs103, standing at Rs5,623.
Monday and Saturday Trends
On Monday, gold prices in Pakistan declined, tracking losses in the international market. In the local market, the price of gold per tola stood at Rs437,436 after falling by Rs2,400 during the day, according to rates released by the APGJSA. Similarly, 10-gram gold was traded at Rs375,030, down Rs2,058.
On Saturday, the price of gold per tola closed at Rs439,836 after declining by Rs1,100. The decline came as investors weighed mixed signals from the US economy.
