KARACHI — Gold prices in Pakistan rebounded sharply on Tuesday, registering a significant increase just a day after a record decline in the domestic market.
According to the All Pakistan Gems and Jewellers Association, the price of gold per tola surged by Rs16,300, reaching Rs464,062. The sharp rise reversed part of the heavy losses recorded a day earlier, when prices had dropped dramatically.
Read More: Gold loses over Rs40,000 per tola in Pakistan
Similarly, the price of 10 grams of gold increased by Rs13,975, taking it to Rs397,858. The sudden fluctuation highlights the ongoing volatility in precious metal markets, driven by global economic uncertainty and shifts in investor sentiment.
In the international market, gold prices also recorded a notable increase. The global rate rose by $163 per ounce, reaching $4,413, reflecting renewed demand for safe-haven assets amid geopolitical tensions and financial market instability.
Market experts attribute the rebound to changing global cues, including fluctuations in the US dollar, oil prices, and investor concerns over inflation and geopolitical risks. Gold is traditionally seen as a safe investment during uncertain times, which often leads to rapid price swings in both global and local markets.
The surge follows a historic drop on the previous day, when gold prices in Pakistan fell by Rs43,600 per tola in a single session — one of the largest declines ever recorded in the country’s bullion market.
Read More: Gold prices plunge Rs43,600 per tola in Pakistan markets
Traders say such extreme movements are unusual but not unprecedented during periods of heightened uncertainty. They advise investors to remain cautious and closely monitor global developments before making major buying or selling decisions.
The latest increase underscores the sensitivity of Pakistan’s gold market to international trends, as local prices continue to mirror fluctuations in global bullion markets.