Gold prices in Pakistan recorded a strong rebound on Wednesday, mirroring the upward movement seen in the international bullion market.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola climbed by Rs. 7,900, reaching Rs. 431,562. Meanwhile, the rate for 10 grams of gold also moved up significantly, rising by Rs. 6,773 to settle at Rs. 369,994.
The surge comes just a day after the precious metal witnessed a decline. On Tuesday, gold per tola had dropped by Rs. 7,000, closing at Rs. 423,662. Market analysts say the sudden turnaround reflects renewed strength in the global market.
Internationally, gold prices also surged, gaining $79 to hit $4,092 per ounce, including a $20 premium, as reported by APGJSA. The rally is being attributed to shifting investor sentiment and increased demand for safe-haven assets.
Silver prices in the domestic market followed a similar upward trajectory. The metal rose by Rs. 177 per tola, reaching Rs. 5,422 amid improved activity in precious metals.
