Gold prices in Pakistan rebounded sharply on Thursday, rising by Rs9,100 per tola to Rs428,736 in the domestic market, ending a five-session losing streak. The recovery mirrored a surge in international bullion markets, where gold hit a new high of $4,063 per ounce, up $91 from the previous close.
International and Local Gold Rates
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per 10 grams increased by Rs7,802 to Rs367,572. In the global market, the precious metal gained $91 per ounce to reach $4,063, a record level.
Silver Prices Also Rise
Silver prices also recorded gains. The price of silver per tola increased by Rs203 to Rs6,445, while the price per 10 grams rose by Rs174 to Rs5,525, as per the APGJSA.
Previous Day's Decline
On Wednesday, gold and silver had fallen in both international and domestic markets. Gold in the global market declined by $52 to $3,972 per ounce. In Pakistan, the price of gold per tola fell by Rs5,200 to Rs419,636, and per 10 grams dropped by Rs4,458 to Rs359,770. Silver per tola declined by Rs107 to Rs6,242, and per 10 grams fell by Rs92 to Rs5,351.
Earlier Weekly Trends
On Tuesday, gold prices declined internationally by $41 per ounce to $4,024, with local gold per tola falling by Rs4,100 to Rs424,836 and per 10 grams decreasing by Rs3,515 to Rs364,228. However, silver prices rose by Rs25 per tola to Rs6,349 and by Rs22 per 10 grams to Rs5,443.
On Monday, gold prices in Pakistan fell by Rs2,300 per tola to Rs428,936, tracking losses in the international market amid fresh US-Iran tensions that boosted oil prices and stoked inflation fears, raising expectations of higher interest rates. The 10-gram gold was sold for Rs367,743 after falling by Rs1,972. Silver decreased by Rs69 to Rs6,324 per tola.
On Saturday, the per-tola gold had closed at Rs431,236 following a decline of Rs1,000.
