Gold Prices Rebound in Pakistan After Sharp Decline a Day Earlier

Gold prices in Pakistan surged again on Friday, recovering after a sharp decline recorded just a day earlier.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola increased by Rs3,000, reaching Rs497,662 in the local market.

Similarly, the price of 10 grams of gold rose by Rs2,572, settling at Rs426,664.

In the international market, gold prices also witnessed an upward trend, climbing by $30 to reach $4,753 per ounce. This global increase played a key role in pushing domestic prices higher.

The rise comes shortly after a significant drop on Thursday, when gold prices per tola fell by Rs9,500, while the rate for 10 grams declined by Rs8,145.

Market analysts attribute these fluctuations to changes in global gold rates and currency exchange movements. The recent increase is expected to influence buying behavior in the local market, particularly among investors and consumers planning to purchase gold.