Gold prices rebounded on Wednesday after a short-lived decline, posting gains in both the international and local markets. The rise comes amid ongoing volatility in the global bullion trade.
In the international market, gold prices climbed by USD 13 per ounce, reaching USD 3,366, reversing Tuesday’s dip and reflecting renewed investor interest in the precious metal.
This international movement had a direct impact on local markets across Pakistan. According to the latest figures from the local sarafa markets, the price of 24-karat gold per tola rose by Rs1,300, now standing at Rs359,300.
Similarly, the price for 10 grams of 24K gold increased by Rs1,114, reaching Rs308,041.
Silver prices also saw a rise. The price of silver per tola increased by Rs39, bringing it to Rs4,010, while 10 grams of silver went up by Rs33 to Rs3,437.
This mid-week surge follows a minor correction earlier in the week and reflects the global market’s sensitivity to shifting economic indicators, currency fluctuations, and geopolitical developments.
However, by 0904 GMT, spot gold slipped 0.4% to $3,366.81 per ounce, after hitting a two-week high on Tuesday. US gold futures also fell 0.4% to $3,420.90, suggesting intraday volatility remains high.
In other precious metals:
Spot silver edged down 0.1% to $37.80 per ounce
Platinum rose 0.5% to $1,327.93
Palladium slipped 0.1% to $1,174.34
Investors and jewelers alike are keeping a close watch on market movements, as pricing continues to fluctuate daily.
