Gold prices rebounded sharply in Pakistan on Saturday, recovering part of the losses recorded a day earlier, as international bullion markets showed renewed strength amid a softer U.S. dollar.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold increased by Rs2,100 per tola, bringing the rate to Rs422,700 in the domestic market. The price of 10 grams of gold also rose by Rs1,800 to reach Rs362,397.
The recovery followed Friday’s decline of Rs4,578 per tola, when the local market mirrored the global drop in gold prices.
In the international market, gold traded higher at $4,016 per ounce (including a $20 premium), marking a $21 increase from the previous day.
Jewellers and market analysts attributed the rebound to renewed investor interest in safe-haven assets amid global economic uncertainty and fluctuating bond yields.
“Gold has regained momentum as investors anticipate possible monetary easing by major economies,” a Karachi-based bullion trader said. “Local demand is also firming up as the wedding season approaches.”
Meanwhile, silver prices remained unchanged at Rs5,100 per tola, showing stability despite gold’s volatility.
Experts believe that if international trends remain supportive, domestic gold rates could test the Rs425,000 mark per tola in the coming week.
