Gold and silver prices rebounded strongly on Tuesday in both global and local markets, ending a three-day pause and signaling renewed investor interest after a period of heavy selling pressure.
In the international market, gold surged by 137 dollars per ounce to reach 4,813 dollars, while in Pakistan the price per tola jumped by Rs13,700 to Rs540,062 and 10 grams rose by Rs11,745 to Rs432,151.
Read more : Gold prices plunge sharply amid global market volatility and selling …
Similarly, silver recorded notable gains, as the per tola rate increased by Rs416 to Rs8,821, while the price of 10 grams climbed by Rs357 to Rs7,562 in local trading.
Meanwhile, spot gold rose 5.8 percent to 4,935 dollars an ounce after hitting a recent low of 4,403 dollars, reflecting a recovery from last week’s sharp correction.
Read more : Gold prices plunge to record one-day low in Pakistan
At the same time, silver gained 10 percent globally to 87.40 dollars an ounce, rebounding from a record one-day fall of 27 percent and another six percent drop earlier this week.
Analysts said the rebound followed intense market volatility triggered by higher margin requirements and changing interest rate expectations, which had earlier pushed gold below Rs500,000 in Pakistan.