After a week-long slump, gold prices in Pakistan rebounded sharply on Saturday, marking one of the most significant single-day increases in recent months.
According to data released by the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold jumped by Rs. 6,100 per tola, settling at Rs. 359,000. This marks a recovery from Friday’s rate of Rs. 352,900. The rally also lifted the price of 10 grams of 24-karat gold by Rs. 5,229, now priced at Rs. 307,784.
The gains come on the heels of a notable decline that saw gold losing Rs. 12,000 per tola between July 24 and August 1, driven by shifting global trends and currency fluctuations.
Meanwhile, 22-karat gold saw a similar rise, climbing from Rs. 277,342 to Rs. 282,145 per 10 grams. Silver prices also edged higher, with per tola silver increasing by Rs. 53 to Rs. 3,953, and 10 grams moving up by Rs. 45 to Rs. 3,389.
On the global front, gold saw an upswing of $61 per ounce, reaching $3,363 from $3,302. Silver followed suit with a modest $0.53 rise, trading at $37.01 per ounce.
The turnaround reflects a mix of local demand shifts and global uncertainty, which often boosts investor interest in precious metals as a hedge. Traders will now be watching closely to see if this bounce is a short-term correction or the start of a new upward trend.
