Gold prices in Pakistan experienced a notable increase on Friday, climbing by Rs4,700 per tola and partially recovering from a significant decline observed over the previous four trading sessions. This upward movement brought the price of one tola of gold to Rs453,036, up from Rs448,336 recorded the day before.
Similarly, the price for 10 grammes of gold also saw a rise, increasing by Rs4,229 to reach Rs388,404. This rebound comes after a sustained period of falling prices, where gold had consecutively lost value for four days, accumulating a total decrease of Rs11,900 per tola during that span.
Breaking down the recent declines, Thursday witnessed the steepest drop with prices falling by Rs5,600 to Rs448,336. Prior to that, prices had decreased by Rs1,800 on Wednesday, Rs4,500 on Tuesday, and Rs2,000 on Monday. This sequence of declines had raised concerns among investors and traders about the short-term outlook for gold in the domestic market.
Meanwhile, the international gold market also experienced a downturn, with prices dropping by $56 per ounce on Thursday, settling at $4,258. This global trend likely influenced the local market dynamics, contributing to the recent fluctuations in Pakistan’s gold prices. The Friday surge may indicate a potential stabilization or renewed demand after the recent sell-off.
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