Daily Times

After a sharp decline of Rs10,400 just a day earlier, gold prices in Pakistan saw a significant rebound on Tuesday. According to the All Pakistan Sarafa Jewellers Association, the price of 24-karat gold per tola increased by Rs3,700, reaching Rs344,200 in local markets.

Likewise, the price for 10 grams of 24-karat gold rose by Rs3,173, settling at Rs295,096. In comparison, 22-karat gold—often used in jewelry—also became Rs2,821 more expensive, now being sold for Rs270,514 per 10 grams.

The upward trend wasn’t limited to gold. Silver prices also rose sharply, with 1 tola of silver increasing by Rs82 to reach Rs3,482, and 10 grams gaining Rs71, hitting Rs2,985. These increases are reportedly linked to global market changes and a slight drop in the Pakistani rupee’s strength.

In international markets, gold surged by $37 per ounce, reaching $3,258, as investors turned to safe-haven assets amid global economic uncertainty. This global price movement strongly influences local rates, which are adjusted daily by local market bodies.

Just a day before, prices had plunged unexpectedly, creating uncertainty among investors and jewelers. The fluctuation reflects the ongoing volatility in global and domestic economic conditions, which continues to affect precious metal pricing in Pakistan.