KEY POINTS
- Gold price per tola jumps to Rs 514,362 after a steep single-day increase
- International bullion rises $240 to $4,916 per ounce
- Silver prices also move higher in the local market
ISLAMABAD: Gold prices in Pakistan staged a strong recovery on Tuesday, snapping a three-session losing streak as the domestic market tracked a sharp rise in international bullion rates.
The price of gold per tola climbed by Rs 24,000 to settle at Rs 514,362, according to figures released by the All-Pakistan Gems and Jewellers Sarafa Association.
Likewise, the price of 10 grams increased by Rs 20,576 to reach Rs 440,982, reflecting renewed buying interest after recent declines.
The rebound follows a turbulent spell in which the precious metal had shed Rs 85,500 per tola over the previous three trading sessions.
On Monday alone, gold had fallen by Rs 21,500 to close at Rs 490,362, highlighting the volatility that has gripped bullion markets.
Internationally, gold prices advanced by $240 to $4,916 per ounce, including a $20 premium, as investors returned to safe-haven assets amid shifting expectations in global financial markets.
Movements in the international market typically set the direction for domestic prices, since Pakistan relies on imported bullion.
Silver also registered notable gains, rising by Rs 741 to settle at Rs 9,146 per tola, mirroring the broader upward trend in precious metals across the globe.
Market observers said that the latest surge underscores gold’s sensitivity to global price movements and currency dynamics, with investors often turning to bullion as a hedge during periods of financial uncertainty.
