Gold prices in Pakistan experienced a significant rebound on Wednesday, recovering sharply from the previous day’s decline as they followed an upward trend in the international market. Domestic gold rates surged, with the price per tola increasing by Rs11,100 to reach Rs488,962. Similarly, the price for 10 grams rose by Rs9,517, settling at Rs419,206, figures from the All Pakistan Sarafa Gems and Jewellers Association.
This rise came after a fall in prices on Tuesday, when the per tola rate dropped to Rs477,862 and the 10-gram price fell to Rs409,689. Market analysts attributed the rebound to renewed strength in global bullion markets, where gold prices recovered following earlier declines caused by expectations of sustained high interest rates in the United States.
Typically, elevated interest rates reduce gold’s appeal since it does not yield interest, making interest-bearing assets more attractive. Nonetheless, ongoing economic uncertainty and inflation concerns continue to drive demand for gold as a safe-haven asset. Silver prices in the local market also edged upward, mirroring the positive momentum seen in gold.
