Gold price rebounds by Rs2,400 to Rs243,000 per tola

In a notable shift, gold prices in Pakistan surged significantly on Thursday, aligning with an upward trend in international markets.

The local price of gold per tola (approximately 11.66 grammes) climbed to Rs243,000, marking a substantial single-day increase of Rs2,400.

Similarly, the price of 10 grammes of gold rose by Rs2,057, reaching Rs208,333. These figures were reported by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

This surge follows a minor decline on Wednesday, when the gold price per tola in Pakistan decreased by Rs400.

Contrary to the local market trend, the international gold price witnessed a decrease on Thursday.

According to the APGJSA, the international rate settled at $2,362 per ounce, inclusive of a $20 premium, after experiencing a $30 drop during the day.

In contrast, silver prices remained stable, with the rate fixed at Rs2,800 per tola.

It’s noteworthy that back in April, the price of gold in the local market reached an all-time high of Rs252,200 per tola, highlighting the volatility and significant fluctuations in the precious metals market.