Gold prices rebound after five-day decline in Pakistan

Gold prices rebounded sharply in both Pakistan and the international market on Thursday after recording declines for

Gold prices rebounded sharply in both Pakistan and the international market on Thursday after recording declines for five consecutive trading sessions, according to the All Pakistan Sarafa Association.

The latest increase reflects a recovery in precious metal prices, with domestic gold rates registering a significant jump. The price of 24-karat gold rose by Rs3,600 per tola, taking the new rate to Rs433,836 per tola in the local market.

Similarly, the price of 10 grams of 24-karat gold increased by Rs3,086, reaching Rs371,944. The rise follows several days of falling prices, offering relief to traders and investors after the recent downward trend.

Market analysts said the rebound in local prices was driven by gains in the international bullion market, where gold also posted a notable increase. Global gold prices climbed by $36 per ounce, pushing the international rate to $4,113 per ounce.

The recovery in global prices was reflected in Pakistan’s domestic market, where gold rates generally move in line with international trends while also being influenced by the exchange rate of the Pakistani rupee against the US dollar.

Meanwhile, silver prices remained unchanged despite the rise in gold. The price of silver held steady at Rs6,421 per tola in the local market, indicating stable demand and limited movement in the silver segment.

Gold prices have remained volatile in recent weeks due to changing global economic conditions, fluctuations in the US dollar, and investor expectations regarding interest rates. As a result, both international and domestic markets have witnessed frequent price adjustments.

Jewellers and bullion traders continue to monitor developments in global financial markets, as any major changes in economic indicators or geopolitical conditions can directly affect precious metal prices.

The latest recovery comes after five consecutive days of declines, making it one of the strongest single-day increases seen this week. Investors and buyers are expected to keep a close watch on upcoming market movements before making further purchasing decisions.

With gold regaining momentum in both local and international markets, traders believe price trends in the coming days will largely depend on global market sentiment and currency movements. Buyers are advised to stay updated with daily bullion rates, as gold prices may continue to fluctuate in response to international developments.