KARACHI: Pakistani gold prices bounce back significantly on Saturday when they jump to Rs444,336 per tola from Friday’s fall by Rs7,250 due to international gold prices’ increase of $43 to reach $4,219 per ounce. Silver prices gain Rs200 per tola.
The gold market in Pakistan witnessed a strong bounce back over the weekend after its fall on Friday, as the price of gold in Pakistan went up by Rs4,370 per tola to close at Rs444,336 per tola.
The price of gold in Pakistan rebounds from the previous day’s drop
The Saturday price rise follows a sharp fall in the price of gold in Pakistan witnessed the previous day. The previous day witnessed a decline by Rs7,250 in the tola rate to close at Rs439,880, representing a reversal of part of the gains recently seen. However, the recovery on Saturday by Rs4,370 is not enough to bring the tola rate back to its earlier levels.
Pattern is the same in case of gold and silver of 10 grams
Gold Price of 10 Gram Gold has been closed in Pakistan today at Rs.379,880 after rising by Rs.3,933, thus following a similar pattern as tola price. Silver too has seen its prices rise, gaining Rs.200 in price for each tola and closing at Rs.7,279.
ALSO READ: Gold Price in Pakistan Rises Rs4,370 Per Tola to Rs444,336
International market leads comeback
The rate of gold in Pakistan continued to follow closely the international spot price trend. The increase of 43 dollars to $4,219 per ounce in international gold prices recorded over the weekend was responsible for leading the comeback from the previous downward trend seen during the preceding days. The bullion price remaining above $4,200 per ounce in international markets kept the Pakistani domestic price at a high level.
Nayab Fatima is a university graduate and an emerging media professional with a strong passion for journalism, research, and independent reporting. She specializes in developing well-researched, fact-based, and analytical news stories covering a wide range of sectors, with particular expertise in technology, telecommunications, aviation, and the automobile industry.
