Gold prices in Pakistan recovered sharply on Friday after declining in the previous session, with the price of 24-karat gold increasing by Rs6,900 per tola to close at Rs460,336.
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The latest increase marked a significant rebound in the local bullion market, following Thursday’s decline. The recovery was also supported by an increase in international gold prices.
The price of 24-karat gold increased by Rs5,914 per 10 grams, reaching Rs394,663.
Meanwhile, 22-karat gold rose by Rs5,423 per 10 grams to Rs361,787.
The international price of gold increased by $69 per ounce to $4,378, recovering from Thursday’s levels.
A day earlier, Pakistan’s bullion market saw gold prices decline, with the yellow metal giving back most of the previous session’s gains. The gold rate in Pakistan for 24-karat gold fell by Rs3,800 to close at Rs453,436 per tola.
The latest decline reversed much of Wednesday’s strong rebound, highlighting continued volatility in the local gold market.
For 10 grams, the price of 24-karat gold decreased by Rs3,257 to Rs388,749, while 22-karat gold fell by Rs2,987 to Rs356,364.
According to the provided market data, the rates are certified by the All Pakistan Sarafa Gems and Jewellers Association, based on interbank exchange rates for 24-karat gold with 999 purity.
