Gold prices in Pakistan experienced a notable rebound on Monday, recovering from the declines seen over the weekend. This upward movement was largely influenced by rising international bullion prices, which buoyed the local market.
The price of 24-karat gold increased by Rs1,700 per tola, reaching Rs428,436, the All Pakistan Sarafa Gems and Jewellers’ Association. Similarly, the cost of 10 grams of gold rose by Rs1,457 to Rs367,314.
Silver prices also saw an uptick, with the price per tola climbing by Rs54 to Rs6,291. This rise in precious metals aligns with trends in the global market, where spot gold gained $17, reaching $4,060 per ounce, providing additional support to domestic prices.
In a significant development, this increase follows a sharp drop on Saturday, when gold prices in Pakistan fell by Rs3,700 per tola to Rs426,736. Market analysts suggest that gold may continue to trend upwards if uncertainty in global financial markets persists, as investors often view bullion as a safe-haven asset during times of economic and geopolitical instability.
Experts highlighted that fluctuations in the US dollar, global economic conditions, and international bullion market trends will remain crucial factors affecting gold prices in the near future. Investors are advised to closely monitor both domestic and international market developments before making any buying or selling decisions, as even minor shifts in the global economic outlook can significantly impact bullion prices.
