After several days of continuous decline, gold prices in Pakistan saw a significant surge today, marking a strong rebound in the local bullion market.
According to Observer Guardian, data released by the All Pakistan Gems and Jewellers Association showed that the price of gold rose by 1,800 rupees per tola, bringing the new rate to 433,662 rupees across the country. Similarly, the price of 10 grams of gold increased by 1,543 rupees, reaching 371,795 rupees.
In the international market, the price of gold also moved upward, gaining 18 dollars per ounce to reach 4,113 dollars, reflecting renewed investor interest and global market uncertainty.
Observer Guardian reported that local traders attribute the price surge to fluctuations in the international market and a slight depreciation of the Pakistani rupee, which directly impacts domestic bullion rates.
Experts believe the latest increase may encourage short-term investors to re-enter the market after weeks of falling prices, while long-term trends will continue to depend on global economic stability and geopolitical developments.
