Gold prices in Pakistan experienced a modest recovery on Thursday, rising by Rs600 per tola after a significant drop the previous day. The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) reported that the price of gold climbed to Rs435,036 per tola from Rs434,436 recorded on Wednesday.
Similarly, the price of 10-gram gold increased by Rs515, reaching Rs372,973. This follows a decline on Wednesday when gold prices fell by Rs3,100 per tola, and the 10-gram gold price dropped by Rs2,658 to Rs372,458. Meanwhile, silver prices decreased by Rs100 per tola on Wednesday, settling at Rs6,488.
Gold prices in Pakistan are influenced by various factors, including international bullion rates, fluctuations in the rupee-dollar exchange rate, geopolitical developments, and investor sentiment. Gold is often viewed as a safe-haven asset during times of economic and political uncertainty, which can drive up demand and international prices. Conversely, easing tensions tend to reduce pressure on the precious metal.
In the domestic market, the interplay between global gold prices and the value of the Pakistani rupee against the US dollar remains a key determinant of local bullion rates.
