Gold jewellery displayed at a jewellery shop as prices surge in Pakistan.
Pakistan’s gold market recorded a sharp rebound on Thursday as gold prices rose significantly following at least five consecutive days of declines, in line with a strong recovery in international markets.
The price of 24-karat gold increased by Rs9,100 per tola, taking the new rate to Rs428,736, according to the All Pakistan Sarafa Gems and Jewellers Association.
The price of 10 grams of 24-karat gold also climbed by Rs7,802 to Rs367,572. Meanwhile, 10 grams of 22-karat gold rose by Rs7,152, reaching Rs336,953.
The increase mirrored gains in the global bullion market, where the price of gold rose by $91 per ounce to $4,063 per ounce.
Silver prices also moved higher in Pakistan. The price of 24-karat silver per tola increased by Rs203 to Rs6,445, while the price of 10 grams of 24-karat silver rose by Rs174 to Rs5,525.
The latest increase reverses the downward trend seen earlier this week, when gold prices had fallen sharply in both domestic and international markets.
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