Gold prices in Pakistan experienced a notable rebound on Thursday, reversing the downward trend observed in the previous trading sessions. This recovery was largely influenced by a surge in the international bullion market, which saw spot gold prices rise significantly. Local traders reported that the price of 24-karat gold increased by Rs5,000 per tola, reaching Rs475,362, while the price for 10 grams climbed by Rs4,287 to Rs407,546.
The upward movement in Pakistan’s gold prices closely mirrored the global market, where spot gold surged by $50 per ounce to reach $4,530. This marked a strong recovery after a sharp decline the day before, highlighting the sensitivity of local prices to international trends. Silver prices also followed this positive momentum, with per tola silver prices rising by Rs60 to Rs8,034 and the 10-gram rate increasing by Rs51 to Rs6,887.
In a significant development, the rebound came just a day after gold prices had dropped sharply both internationally and domestically. On Wednesday, international gold prices fell by $68 per ounce to $4,480, while local gold prices decreased by Rs6,800 per tola to Rs470,362. Similarly, the price of 10 grams of gold declined by Rs5,830 to Rs403,259. These fluctuations underscore the volatility in the precious metals market, influenced by global economic factors and currency exchange rates.
Bullion dealers emphasized that local gold prices remain closely linked to international market movements and the dynamics of the rupee-dollar exchange rate. As a result, any significant changes in these areas tend to have an immediate impact on the domestic pricing of gold and silver, reflecting the interconnected nature of global and local markets.
