Gold prices recorded a sharp rebound in both international and local markets after declining for two consecutive days, surprising buyers and investors.
In the international bullion market, the price of gold rose by $34 per ounce on Friday, pushing the global rate to $4,472 per ounce. Market analysts attribute the jump to renewed buying interest and ongoing volatility in global financial conditions.
The upward trend was also reflected in Pakistan’s local market. The price of 24-karat gold per tola increased by Rs. 3,400, reaching Rs. 469,562. Meanwhile, the price of 10 grams of gold rose by Rs. 2,915 to Rs. 402,573.
Silver prices also moved higher alongside gold. In the local market, silver per tola increased by Rs. 70 to Rs. 8,195, while 10 grams of silver rose by Rs. 60 to Rs. 7,025.
Traders say the sudden rise comes amid continued uncertainty in global markets, with investors closely watching currency movements, interest rate expectations, and geopolitical developments. Analysts note that short-term fluctuations are likely to continue as precious metals respond to international trends and local demand.
