Gold Price in Pakistan Surges Again After Yesterday Drop. Gold prices in Pakistan recorded a strong rebound on Wednesday, reversing the decline seen just a day earlier. The latest increase comes as global gold markets also strengthened sharply, pushing domestic rates upward once again.
Gold Rates Jump Significantly in Local Market
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold per tola surged by Rs. 7,900, reaching Rs. 431,562 in the domestic market.
The rate of 10-gram gold also climbed noticeably, rising by Rs. 6,773 to Rs. 369,994.
The jump follows Tuesday’s fall, when the per-tola price had slipped by Rs. 7,000, settling at Rs. 423,662. Today’s fresh uptick indicates renewed buying activity and strong market momentum powered by international trends.
Global Market Pushes Prices Higher
Gold prices in the international market saw a substantial rise as well.
According to APGJSA, global gold prices increased by $79, reaching $4,092 per ounce. The association also noted that this figure includes a premium of $20, reflecting higher demand and market volatility.
Analysts believe the upward movement in global bullion prices is linked to currency fluctuations, geopolitical uncertainties, and shifting investor sentiment, all of which continue to push gold upwards.
Silver Prices Also Move Upward
The rally was not limited to gold alone. Silver prices in the local market also increased on Wednesday.
The price of silver per tola rose by Rs. 177, bringing the new rate to Rs. 5,422.
This simultaneous increase in gold and silver suggests a broader strengthening in the precious metals market.
Why Are Gold Prices Rising Again?
Several factors have contributed to the renewed price surge:
- Global market recovery after Tuesday’s correction
- Higher investor demand for safe-haven assets
- Fluctuations in the international dollar index
- Premium adjustments due to global market volatility
Pakistan’s local rates are directly influenced by international bullion prices, and even minor global fluctuations often result in major changes in domestic pricing.
What This Means for Buyers and Investors
The sudden increase in gold prices may impact both short-term buyers and long-term investors:
- Jewellery buyers might face higher costs ahead of the winter wedding season.
- Investors may see this as a signal to reconsider gold positions amid rising global uncertainty.
- Traders could experience increased volatility, with further fluctuations expected in the coming days.
Conclusion
The gold price in Pakistan has once again surged strongly, reflecting the global market bounce seen today. With per-tola prices climbing by Rs. 7,900 and international rates reaching $4,092 per ounce, the precious metals market appears to be entering another phase of upward momentum.
As both gold and silver record gains, market observers suggest keeping an eye on global trends, currency movements, and local demand patterns, all of which will shape future price movements in Pakistan.
